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.
“The DHI Database is a promising new source of information about U.S. labor markets and the employer-worker matching process,” said Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University of Chicago Booth School of Business. “In the coming months, we will use the database to give recruiters, employers, researchers and policymakers new statistics for tracking and assessing labor market conditions.” Davis is a co-creator of the DHI-DFH Recruiting Intensity Index and the DHI-DFH Mean Vacancy Duration Measure.
“The unemployment rate in the U.S. is nearing full employment and that means employers everywhere are competing to hire hard-to-find candidates. The struggle is particularly acute in healthcare, technology and the financial services industries,” said Michael Durney, President and CEO of DHI Group, Inc. “While offering ideal compensation and benefits packages is an important element in the recruiting process, knowing what days of the week and times ”