Accord to DHI, time to fill metrics decreased by a few days last month. Here are the highlights:
1. The DHI-DFH Mean Vacancy Duration Measure for the U.S. economy dropped to 27.6 working days in May 2017, 2.8 days below the all-time high reached in April 2017.
2. The “Resources,” “Financial Services,” and “Information” industry sectors experienced the largest drops in mean vacancy duration – falling 10.2, 9.3 and 9.1 working days, respectively, relative to their April 2017 levels.
3. Job openings that require skills related to “Security,” “Solution Development,” “Application Development,” “Data,” and “Systems” have experienced an increase in labor market tightness since 2012 relative to other jobs covered by the DHI Database. That is, job postings with these skill requirements saw large relative declines in the average daily flow of applications per posting.
4. Jobs that require skills in “Hadoop,” “SharePoint”, “Salesforce,” “ORACLE” and “UNIX” are among those that experienced a decrease in relative labor market tightness since 2012.
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“Coming on the heels of historically high vacancy durations in April, the large, broad-based drop in how long it takes employers to fill job openings is a striking and welcome development,” said Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University of Chicago Booth School of Business. “Whether vacancy durations stabilize or resume their long upward march remains to be seen.” 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.
“Finding and attracting highly skilled tech professionals is a real pain point for employers, particularly as all companies need talent to analyze data and work on technology initiatives to move the business forward,” said Michael Durney, President and CEO of DHI Group, Inc. “Tech pros with very specific skill experience are looking for more than big paychecks from their next employer. Culture, the opportunity to work on interesting projects and work/life balance are all considerations. Successful companies highlight these items in the recruiting process and place a strong focus on employer branding, gaining an edge over competitors.”
Currently, the DHI Database draws mainly from DHI’s Dice.com platform. Other DHI platforms include eFinancialCareers, Biospace, Rigzone, ClearanceJobs, Health eCareers, and Hcareers. Analysis of the DHI Database in this report draws on “Application Flows” by Steven J. Davis and Brenda Samaniego de la Parra.