“We continue to roll out new labor market metrics based on the DHI Vacancy and Application Flow Database,” said Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University of Chicago Booth School of Business. “This month’s report provides granular information about changes in skill scarcity and skill abundance in the labor market.” Davis is a co-developer of the DHI Database and co-creator of the DHI-DFH Mean Vacancy Duration Measure and Recruiting Intensity Index.
“The labor market conditions for tech professionals are really positive right now, with low unemployment and increasing demand to fill open roles pressuring employers to make appealing offers,” said Michael Durney, President and CEO of DHI Group, Inc. “Now is the time for tech talent to polish their skillset, map their career path and seize a new opportunity. Tech pros who research their market worth and recognize the challenging recruiting environment can feel confident to go for that job that may have previously been just out of reach.”
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.