Average Job Vacancy Rises to 27.3 Days

2015-06_Mean_Vacancy

Is it taking longer for people to land their next jobs?

According to data from DHI (Dice’s parent company) and other sources, the answer is yes. DHI regularly collaborates with Stephen Davis, an economist at the University of Chicago, to figure out the average duration of U.S. job vacancies. In April, that duration hit 27.3 days, having risen steadily since 2009. As DHI CEO Michael Durney told the Wall Street Journal this week, the burgeoning economy has made recruiting top professionals “more challenging.”

While the DHI data applies to the U.S. economy as a whole, competition among tech companies for top talent is especially fierce. Unemployment in the tech industry has dipped to around 2 percent, and those tech pros with in-demand abilities—hello, iOS and Android developers—are attracting astronomical salaries.

Other sources support this trend in lengthening vacancies. Glassdoor, for example, recently issued a report suggesting the “average overall job interview process” took 22.9 days in 2014, significantly up from a few years previous. That report suggested that the length of time is largely due to employers subjecting job candidates to an extensive battery of tests and interviews: “Choosing to require group panel interviews, candidate presentations, background checks, skills tests and more each have a positive and statistically significant effect on hiring times.”

Tech pros, especially those with highly specialized skills, may find themselves subjected to round after round of technical testing, which can drag out the average hiring time even further. Many companies, however, may feel they have no choice; with the success or failure of high-profile initiatives almost entirely dependent on the skills of the pros working on them, there’s more pressure than ever to make good hires. (Companies may also keep the interviewing process open longer, in hope of finally capturing the legendary 10x developer; though if they find someone who exceeds their requirements, they’re liable to hire them on the spot.) If they can land the right person, the added time will have been worth it.

Image Credit: DHI

Comments

4 Responses to “Average Job Vacancy Rises to 27.3 Days”

June 23, 2015 at 12:52 pm, James Beatty said:

Interesting now if the lies would stop and the truth was told that would be a great thing.

Reply

June 25, 2015 at 8:21 am, Michael said:

I can tell you it’s not for want or lack of trying on my part. At a certain point one stops holding one’s breath. If it happens great. If not, very well, keep on keeping on as best you can in spite of it.

Reply

June 25, 2015 at 4:28 pm, Chris said:

Job vacancy time doesn’t correlate to individual average unemployment time.

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June 25, 2015 at 5:29 pm, Michael said:

@Chris good point, no it certainly does not. But it might offer a clue that the unemployment numbers are higher than first believed, coupled with the available jobs being fewer.

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