Employer-to-employer (EE) switching in downturns and recoveries
| Year: quarter | Unemployment rate | Unemployment level (millions) | Employment-to-employment annualized rate** | Employment-to-employment switches (millions) |
|---|---|---|---|---|
| 1995:4 | 5.6% | 7.4 | 34.2% | 42.8 |
| 2000:4 | 3.9% | 5.6 | 33.0% | 45.3 |
| 2003:2 | 6.2% | 9.0 | 27.4% | 37.7 |
| 2007:2 | 4.5% | 6.9 | 29.6% | 43.2 |
| 2009:4 | 9.9% | 15.2 | 25.1% | 34.7 |
| 2019:4 | 3.6% | 5.9 | 28.8% | 45.7 |
| Changes in downturns and recoveries * | ||||
| 1995:4–2000:4 | -1.7% | -1.8 | -1.1% | 2.6 |
| 2000:4–2003:2 | 2.3% | 3.4 | -5.6% | -7.6 |
| 2003:2–2007:2 | -1.7% | -2.2 | 2.2% | 5.4 |
| 2007:2–2009:4 | 5.4% | 8.4 | -4.5% | -8.5 |
| 2009:4–2019:4 | -6.3% | -9.3 | 3.8% | 11.0 |
* Based on unemployment rate peaks and troughs. Employment switches evaluated at end date employment level.
** Seasonally adjusted quarterly average based on monthly rates, multiplied by 12 to annualize.
Source: Employer switching data from Fujita, Moscarini, and Postel-Vinay (2021), unemployment data from Bureau of Labor Statistics.