Filling vacancies is taking longer than ever and there’s no reason to believe that will change any time soon.
Time to fill rose in April to its longest yet — 29.3 days on average for all industries and jobs in the U.S.
That trumps by almost a full day the previous high of 28.4, which was posted in August last year. And it represents a 1.6 day increase in fill time over March, according to the DHI-DFH Mean Vacancy Duration Measure. The measure is part of the monthly Hiring Indicators report from DHI Group, publisher of several specialty job boards, including the tech site, Dice.com.
For some industries the rise was much greater. For healthcare vacancies, the average fill time went from 46.1 days in March to 49.5 in April. That’s the longest of the 12 industries (including government) reported.
The shortest average fill time is for employers in the resources industry, where it takes 15.7 days. Construction is close behind, requiring 15.8 business days to fill a vacancy.
“The growing length of vacancy durations in a time of modest economic growth suggests that employers have become more selective and cautious in filling their open positions,” said Dr. Steven Davis, professor at the University of Chicago Booth School of Business. He prepares the monthly report for DHI Group, the job board publisher.
A report today from Manpower predicts that hiring in the upcoming third quarter will be on a par with the previous quarters. The firm’s Employment Outlook Survey for the U.S. says 23 percent of U.S. employers expect payrolls to increase in the quarter that begins July 1.On a seasonally adjusted basis, the Net Employment Outlook is +15%. “Hiring prospects nationwide remain relatively stable, both quarter-over-quarter and year-over-year,” the Manpower outlook says.
Nationally, hiring by the hospitality industry is expected to be the strongest, with a net outlook (companies saying they will increase their hiring less those reporting plans to decrease) of 23 percent seasonally adjusted.
Globally, Manpower’s survey found the hiring outlook strongest in India, where a net hiring outlook of 35 percent is expected. Japan, too, is showing strength with a net employment outlook of 22 percent.
Manpower notes that while staffing levels are expected to grow in 40 of 43 countries and territories during the quarter, “A number of employers also indicate that overall payroll growth is likely to proceed at a more conservative pace than in the prior quarter or last year at this time.”