The number of unemployed Americans per job opening tumbled to 2.1 as of May.
Meanwhile, the average job opening sits on the market for almost six weeks.
According to the Dice‐DFH Vacancy Duration Measure, the average duration of a U.S. job opening is 25.1 days.
From DiceHiring’s release: “The average length of vacancies is up 64 per cent since July 2009 and exceeds all previous peaks. Among the major U.S. regions, the West shows the largest increase, rising from 16.4 working days in 2009 to 26.7 days in May 2014, a new peak.”
“The further rise in vacancy durations indicates that employers face tighter labour market conditions,” said Dr. Steven Davis of the University of Chicago Booth School of Business. “Manufacturing and Financial Services are among the sectors experiencing sharp increases in vacancy durations in recent years. Vacancy durations have also recovered to pre‐recession levels in Construction.”
Dice derives this stat from the BLS’s Job Openings and Labour Turnover Survey (JOLTS).
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