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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:
Click here to see the graphic
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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