FRED has some new data. Isn’t that exciting? They now have several new series from DHI Group that measure how difficult it is for firms to hire people. I was curious about the manufacturing sector, so here’s the data:
As you can see, both average duration of job vacancies and average search intensity to fill jobs was pretty flat through the middle of last year. Average vacancy duration went up a bit in mid-2016 and companies responded by recruiting a little harder. Very quickly, vacancy duration returned to 30 days, roughly the average of the past five years.
What this tells us is that it has gotten a little harder to find people in the manufacturing sector over the past couple of years, and companies have had to work a little harder to fill their positions. But only a little.
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