Each month, we look at the pace or ‘velocity’ of hiring among the 50,000 employers whose jobs we index in our job search engine. The graphic below shows, for each of the past 10 months, the length of time that job openings were on LinkUp that had rolled off the site in the prior 6 months. So for example, in January, there were 929,000 that rolled off the site between August and January that were on the site for between 0-15 days. That is 350,000 jobs less than the 1.28 million that rolled off the site between May and October, indicating that employers have slowed down the pace of their hiring since last fall.
Overall, the average number of days that employers are taking to fill their job openings has dropped from 51 days in April to a low of 41 days in October. Since then, the average number of days that job openings are staying on LinkUp has risen slightly to just under 47 days, indicating again that the velocity of hiring has cooled off a bit since October.