Employers Taking More Time To Fill Job Openings
Job openings stayed unfilled an average of 25.1 days in May, 2014, which is the highest number of average days since this type of data collection began in 2001. That compares to a low of 15.3 days in July 2009, about when the recovery officially began.
This data, reported by Catherine Rampell in The Washington Post, is based on the average number of working days between when a job is first posted and when an offer is finally accepted. Though there is also additional time between the fill date and a new employee’s starting date, that time span is not included in this measure.
In some of the more competitive industries, job openings are staying vacant for longer than 25 days. For example, in financial services the typical job opening stayed vacant for about 40 days, compared to a low of 18.4 days in August 2009.
In construction, workers are getting hired within a much shorter time frame, with the average construction posting staying open for fewer than 10 days before being filled.
Employers with at least 5,000 workers are waiting an average of 68.5 days, one of the highest marks seen since 2001.