“When employers offer higher wages, they attract more applicants. That’s no surprise, but the size of the effect is large,” said Dr. Steven Davis, Chicago Booth professor and Senior Fellow at the Hoover Institution. “Applicant numbers rise by 9 percent for each 1% rise in the posted wage for vacancy announcements on Dice.com.” 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 DHI skill-level measures of labor market tightness.
“Competition remains fierce for tech talent across the United States,” said George McFerran, EVP of Product & Marketing for DHI Group, Inc. “As companies increasingly need tech professionals to build out key products and support critical initiatives, the competitive landscape becomes more difficult for employers and ideal for tech talent with indispensable, hard-to-find skills.”
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.