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Dr. Steven J. Davis University of Chicago Booth School of Business February 9, 2016 Mean Vacancy Duration Held Steady at.

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Presentation on theme: "Dr. Steven J. Davis University of Chicago Booth School of Business February 9, 2016 Mean Vacancy Duration Held Steady at."— Presentation transcript:

1 Dr. Steven J. Davis University of Chicago Booth School of Business February 9, 2016 http://DHIhiringindicators.com/ Mean Vacancy Duration Held Steady at 26.6 Working Days in November

2 Sample Statistical Products Derived from JOLTS Data Charts and tables produced using data from the Job Openings and Labor Turnover Survey following the analytical framework and measurement methods in Davis, Faberman and Haltiwanger (2012, 2013). Steven J. Davis faculty.chicagobooth.edu/steven.davis/ February 9, 2016

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4 Decennial Census Hiring

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7 Three-Month Moving Averages

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11 Recruiting Intensity Index By Industry and Time Period 2001 to 2003 2004 to 2006 20082009 2010 to 2012 201320142015 Resources0.991.071.050.701.000.961.060.97 Construction1.071.040.89 1.010.930.900.88 Manufacturing1.021.080.940.850.930.880.92 Wholesale and Retail Trade1.051.100.960.840.890.941.04 Warehouse, Trans. & Utilities0.961.120.93 0.961.011.10 Information1.101.080.870.820.921.061.141.15 Financial Services1.051.090.990.840.860.980.95 Professional and Business Services1.081.070.900.820.940.951.011.00 Education1.000.991.040.970.980.940.99 Health Services1.081.031.010.930.880.930.970.99 Leisure and Hospitality1.08 0.970.840.880.920.961.00 Other Services1.011.070.950.960.950.980.961.03 Government1.061.050.920.860.93 0.981.08 Non-Farm1.051.080.950.850.920.951.001.02

12 Mean Vacancy Duration (Number of Working Days) By Industry and Time Period 2001 to 2003 2004 to 2006 20082009 2010 to 2012 201320142015 Resources0.991.071.050.701.000.961.060.97 Construction1.071.040.89 1.010.930.900.88 Manufacturing1.021.080.940.850.930.880.92 Wholesale and Retail Trade1.051.100.960.840.890.941.04 Warehouse, Trans. & Utilities0.961.120.93 0.961.011.10 Information1.101.080.870.820.921.061.141.15 Financial Services1.051.090.990.840.860.980.95 Professional and Business Services1.081.070.900.820.940.951.011.00 Education1.000.991.040.970.980.940.99 Health Services1.081.031.010.930.880.930.970.99 Leisure and Hospitality1.08 0.970.840.880.920.961.00 Other Services1.011.070.950.960.950.980.961.03 Government1.061.050.920.860.93 0.981.08 Non-Farm1.051.080.950.850.920.951.001.02

13 Focus on Professional & Business Services Mean Vacancy Duration (Number of Working days) By Industry and Time Period 2001 to 2003 2004 to 2006 20082009 2010 to 2012 201320142015 Professional and Business Services 18.220.021.416.418.719.622.326.8 Private18.319.420.015.519.021.623.326.2 Non-Farm19.220.121.016.720.022.524.227.0 Recruiting Intensity Index By Industry and Time Period 2001 to 2003 2004 to 2006 20082009 2010 to 2012 201320142015 Professional and Business Services 18.220.021.416.418.719.622.326.8 Private18.319.420.015.519.021.623.326.2 Non-Farm19.220.121.016.720.022.524.227.0

14 Mean Vacancy Duration by Establishment Size Selected Time Periods Class Size 2001 to 2003 2004 to 2005 200620082009 2010 to 2012 20132014 Jan. 2015- Nov. 2015 % chg. 2009 - Nov. 2015 1-9 19.318.317.319.812.816.518.723.529.2129% 10-49 15.214.917.516.213.015.819.220.722.774% 50-249 15.716.919.418.315.317.921.121.323.151% 250-999 21.021.925.724.918.024.624.026.529.363% 1000-4999 36.235.044.235.630.734.337.336.742.237% 5000+ 47.443.737.139.640.655.156.757.062.053% Recruiting Intensity Index By Establishment Size and Time Period Class Size 2001 to 2003 2004 to 2005 200620082009 2010 to 2012 20132014 Jan. 2015- Nov. 2015 % chg. 2009 - Nov, 2015 1-9 0.991.101.060.980.95 0.940.900.93-3% 10-49 1.051.101.070.950.890.900.940.950.9911% 50-249 1.091.071.090.930.810.900.921.021.0023% 250-999 1.061.07 0.910.830.941.001.041.0526% 1000-4999 1.06 0.991.040.840.940.961.10 31% 5000+ 0.971.111.381.130.760.790.830.900.9729%

15 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), 584-588. 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), 581-622. Hornstein, Andreas, Marianna Kudlyak and Fabian Lange, 2014, “Measuring Resource Utilization in the Labor Market,” Economic Quarterly, Federal Reserve Bank of Richmond, 1Q 2014. 15

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