1. Job Vacancy Durations Climb to New Peak
Eclipsing Previous Highs in 2001, 2007 and 2013
Dr. Steven J. Davis
University of Chicago Booth School of Business
June 10, 2014

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

5. Source: Own calculations using data from the JOLTS http://www. bls

6. Three-Month Moving Averages

8. Mean Vacancy Duration (Number of Working Days)
By Industry and Time Period
2001 to 2003
2004 to 2005
2006
2008
2009
2010 to 2012
2013
Jan Apr. 2014
Resources
12.0
12.1
17.8
17.9
13.7
18.9
20.4
Construction
7.8
7.9
10.1
7.3
4.5
6.2
9.8
11.1
Manufacturing
17.4
19.4
24.2
21.5
13.6
23.5
28.3
28.5
Wholesale and Retail Trade
14.2
15.4
16.5
15.3
13.2
15.9
19.9
19.0
Warehouse, Trans. & Utilities
18.5
21.1
20.8
10.5
18.1
22.4
Information
25.9
31.7
45.2
34.5
24.8
41.1
36.6
38.7
Financial Services
28.0
31.0
34.7
27.6
25.7
33.8
35.7
35.5
Professional and Business Services
18.2
20.0
21.4
16.4
18.8
19.5
Education
21.2
24.1
26.4
22.5
18.3
23.4
22.3
Health Services
39.1
34.6
38.3
36.3
29.8
33.6
34.9
Leisure and Hospitality
13.8
16.2
14.9
10.6
13.4
16.7
Other Services
17.5
20.2
23.8
17.1
18.6
20.1
Government
32.9
29.7
32.6
35.9
32.2
33.1
34.8
Non-Farm
19.2
21.7
21.0
22.9
Note: We can highlight different time periods, if desired.

9. Recruiting Intensity Index By Industry and Time Period
2001 to 2003
2004 to 2005
2006
2008
2009
2010 to 2012
2013
Jan Apr. 2014
Resources
0.99
1.08
1.03
1.05
0.70
1.01
0.98
1.09
Construction
1.07
0.97
0.89
0.93
0.83
Manufacturing
1.02
0.94
0.85
0.88
Wholesale and Retail Trade
1.10
0.96
0.84
Warehouse, Trans. & Utilities
1.13
1.11
Information
0.87
0.82
0.92
1.04
1.06
Financial Services
0.86
Professional and Business Services
0.90
1.00
Education
Health Services
Leisure and Hospitality
Other Services
0.95
Government
Non-Farm
Note: We can highlight different time periods, if desired.

10. Focus on Professional & Business Services
Mean Vacancy Duration (Number of Working days)
By Industry and Time Period
2001 to 2003
2004 to 2005
2006
2008
2009
2010 to 2012
2013
Jan Apr. 2014
Professional and Business Services
18.2
20.0
19.9
21.4
16.4
18.8
19.5
Private
18.3
18.6
21.0
15.5
19.0
21.6
22.1
Non-Farm
19.2
21.7
16.7
22.5
22.9
Recruiting Intensity Index
1.08
1.05
0.90
0.82
0.94
0.96
1.00
1.07
0.95
0.86
0.92

11. 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),