Employers are taking their time before saying, “You’re hired!” Despite declining unemployment rates, the average time to fill a vacant position—from job posting to offer accepted—is now 25 working days.
According to University of Chicago economist Steven Davis, who tracks hiring trends, the last time the hiring process took so long was in 2001.
Davis thinks the lag is a sign that employers still don’t trust that the economy is rebounding. Yes, employers are hiring; no, they’re not rushing to fill jobs with any ready and willing candidate. He told The Wall Street Journal that employers have become “extremely picky. If employers were more confident, they’d bid up wages, and that hasn’t happened.”
Another possible delay: Short-staffed HR departments can’t process the hiring paperwork fast enough.