The chart has two lines. One line shows the Vanguard hires rate from April 2003 through February 2024. It begins the period at 2.7% and varies after that, with a notable dip during the global financial crisis in 2008-09 and another pronounced dip due to the COVID-19-induced recession in 2020. It finishes the period shown at 2.4%. The other line shows the JOLTS hires rate from April 2003 through January 2024. It begins the period at 3.5% and varies after that, with a notable dip during the global financial crisis and a spike following the COVID-19-induced recession. It finishes the period shown at 3.6%.