Job Vacancy Rate

The Job Vacancy Rate is a measure used to indicate the percentage of job openings compared to the total number of jobs available in a specific area or sector. It helps understand the demand for workers by showing how many positions are unfilled relative to the total employment opportunities. A higher rate suggests that many employers are looking for staff, which could indicate a strong economy or labor shortages. Conversely, a lower rate might signal fewer job opportunities or a saturated job market. Overall, it provides insight into the health of the labor market.