Models of turnover specify important roles for both general labor market conditions and perceptions. There is consistent support for the role of general labor market conditions, but evidence on labor market perceptions is mixed. However, no empirical study has included both types of variables. Using a national sample of young adults, both types of measures were found to influence voluntary turnover, either directly or through other factors. However, the two constructs are not necessarily closely linked. For example, despite an intention to quit (based partly on perceived ease of movement), an employee may stay with the organization because general labor market conditions result in a generally low level of alternative job openings.