“Vacancy durations remain near historic highs for the U.S. economy, reinforcing an impression of tight labor market conditions,” said Dr. Steven Davis, Professor of Economics at the Chicago Booth School of Business and Senior Fellow at the Hoover Institution. “Larger employers experience especially long lags in filling open jobs.” Davis is a co-developer of the DHI Database and co-creator of the DHI-DFH Mean Vacancy Duration Measure and new skill-level measures of labor market tightness.
"Employers of all sizes struggle to attract highly in demand tech talent. The advantage the big, well-established firms have is strong brand recognition," said Michael Durney, President and CEO of DHI Group, Inc. "A lot of tech pros today want a sense of belonging in a company and know they can grow their career in a culture they identify with. Large or small, employers who think about the career path of their employees will better attract and ultimately push ahead of competitors as a result."
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.