“Full employment comes with concerns about scarce skills in the labor market” said Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University of Chicago Booth School of Business. “DHI tightness measures help to identify and track the abundance and scarcity of 37 skills that figure prominently in computer-related job postings.” 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.
“Tech professionals with specific, hard-to-find skills are in a position of power as unemployment rates tick down and companies increasingly need tech professionals to execute important projects,” said Michael Durney, President and CEO of DHI Group, Inc. “Employers are willing to pay a premium for tech pros skilled in developing and supporting innovative products, ultimately helping firms maintain a competitive edge.”
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.