The DHI-DFH Mean Vacancy Duration measure found the average job vacancy duration of Professional and Business Services jobs to be 26.6 working days in 2016. In July, technology jobs remained open for 27.3 working days, down from a revised 27.8 working days in May. This is slightly below the national average of 28.7 working days.
The DHI-DFH vacancy duration measure reflects the vacancy concept in the Job Openings and Labor Turnover Survey (JOLTS) in the United States. Specifically, a job opening gets “filled” according to JOLTS when a job offer for the open position is accepted. So the vacancy duration statistics refer to the average length of time required to fill open positions. Typically, there is also a lag between the fill date and the new hire’s start date on the new job.
“The unemployment rate in the U.S. is nearing full employment and that means employers everywhere are competing to hire hard-to-find candidates. This struggle is particularly acute in healthcare, technology and the financial services industries,” said Michael Durney, President and CEO of DHI Group, Inc.
Meanwhile, the DHI-DFH Recruiting Intensity index saw the intensity of companies to fill tech jobs jump from 1.06 in July from 0.96 in June.
This recruiting intensity includes actions by employers to fill a job, including payments on help wanted ads, certain recruiting methods, applicant screening process, hiring standards and the attractiveness of compensation packages offered to prospective new hires.
“High turnover levels and low unemployment rates make for a very tight tech labor market,” said Bob Melk, President of Dice. “Thus, we have seen employers focus on critical roles and channel their recruitment efforts in an attempt to attract and land the best tech talent.”
The DHI Hiring Indicators offer labor market insights from career provider DHI Group, Inc. and Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University Of Chicago Booth School Of Business and a Visiting Fellow at the Hoover Institution.