“All six measures of labor market tightness tracked in the DHI Hiring Indicators rose from June to July,” said Dr. Steven Davis, William H. Abbott Distinguished Service Professor of International Business and Economics at the University of Chicago Booth School of Business and Senior Fellow at the Hoover Institution. “That such a disparate set of measures all point in the same direction reinforces the view that U.S. labor markets have continued to tighten.” Davis is a co-developer of the DHI Database and co-creator of the DHI-DFH Mean Vacancy Duration Measure, the Recruiting Intensity Index and the new skill-level measures of labor market tightness constructed using the DHI Database.
“Employers still say it’s hard to attract the candidates with ideal skillsets and are experiencing lengthy fill times as a result,” said Michael Durney, President and CEO of DHI Group, Inc. “What this tells me is companies aren’t really offering the full employment package to tech candidates. Tech professionals tell us competitive salary, challenging work and a positive culture are of the utmost importance in their careers. The companies who have dedicated time to employer branding and offer the ability to be innovative are more successful at hiring tech talent than their peers who promote the status quo.”
The duration measure reflects the vacancy concept in the Job Openings and Labor Turnover Survey (JOLTS). Specifically, a job opening gets “filled” according to JOLTS when a job offer for the open position is accepted. So the DHI-DFH 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.