Historically, the US unemployment rate has increased when the vacancy rate fell. This time will likely be the same.

Quarterly unemployment vs. vacancy rate at quarter of peak vacancy rate and two years later

Notes: Vacancy rate peaks were determined using the quarter when vacancies reached a local maximum and were nonincreasing for two consecutive quarters. The vacancy rate is defined as the total number of nonfarm job openings divided by the labor force. Vacancy data from 2001 onwards use estimates from the Job Openings and Labor Turnover Survey, while vacancy data before 2001 use vacancy estimates constructed from Barnichon (2010) using the Help-Wanted Index published by the Conference Board. All values are seasonally adjusted.