Job Vacancy Durations Remain Near Peak Levels Mixed Signals on Labor Market Slack Dr. Steven J. Davis University of Chicago Booth School of Business May 9,

Source: Own calculations using data from the JOLTS

Decennial Census Hiring Source: Own calculations using data from the JOLTS

Three-Month Moving Averages

Note: We can highlight different time periods, if desired. Mean Vacancy Duration (Number of Working Days) By Industry and Time Period 2001 to to to Jan Mar Resources Construction Manufacturing Wholesale and Retail Trade Warehouse, Trans. & Utilities Information Financial Services Professional and Business Services Education Health Services Leisure and Hospitality Other Services Government Non-Farm

Recruiting Intensity Index By Industry and Time Period 2001 to to to Jan Mar Resources Construction Manufacturing Wholesale and Retail Trade Warehouse, Trans. & Utilities Information Financial Services Professional and Business Services Education Health Services Leisure and Hospitality Other Services Government Non-Farm Note: We can highlight different time periods, if desired.

Focus on Professional & Business Services Mean Vacancy Duration (Number of Working days) By Industry and Time Period 2001 to to to Jan Mar Professional and Business Services Private Non-Farm Recruiting Intensity Index By Industry and Time Period 2001 to to to Jan Mar Professional and Business Services Private Non-Farm

References Davis, Steven J., R. Jason Faberman and John Haltiwanger (2012), “Recruiting Intensity during and after the Great Recession: National and Industry Evidence,” American Economic Review, Papers & Proceedings, 102, no. 3 (May), Davis, Steven J., R. Jason Faberman and John Haltiwanger (2013), “The Establishment-Level Behavior of Vacancies and Hiring,” Quarterly Journal of Economics, 128, no. 2 (May),