Federal Reserve Economic Data

Average Probability of U.S. Workers Making Employer to Employer Transitions (FMPNSA)

Dec 2025: 1.94005
Updated: Jan 21, 2026 2:18 PM CST
Dec 2025:  1.94005  
Nov 2025:  2.05608  
Oct 2025:  2.22437  
Sep 2025:  2.58765  
Aug 2025:  2.47918  
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Units:

Percent,
Not Seasonally Adjusted

Frequency:

Monthly

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Notes

Source: Federal Reserve Bank of Philadelphia  

Release: Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

Fujita, Moscarini, and Postel-Vinay (FMP) Employer-to-Employer (E2E) Transition Probability tracks the rate at which U.S. workers transition from one employer to another in a given month. Expressed as the share (percentage) of movers among all employed workers in the previous month, E2E Transition Probability provides a timely gauge of the pace of worker reallocation in the U.S. labor market.

Suggested Citation:

Federal Reserve Bank of Philadelphia, Average Probability of U.S. Workers Making Employer to Employer Transitions [FMPNSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FMPNSA, .

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