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.
“Online job seekers flock to newly posted vacancies. That may not surprise hiring managers and recruiters, but it is at odds with leading economic models of the labor market search and matching process,” said Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University of Chicago Booth School of Business. "Last month's edition of the DHI HIring Indicators shows that job seekers are more active early in the workweek and less active late in the month. This month's report shows that job seekers also display a striking propensity to target newly posted vacancies. Hiring managers and recruiters may want to consider these temporal patterns in choosing when to post vacancies."
“Candidates with specialized skills have a unique position in today's job market, creating competition among employers who need their particular skillset,” said Michael Durney, President and CEO of DHI Group, Inc. “While sourcing is an integral part of finding top talent, hiring mangers who swiftly respond to applications will have an advantage over competitors who choose to post and pray.”