Recruiting Intensity during and after the Great Recession: National and Industry Evidence
We measure job-filling rates and recruiting intensity per vacancy at the national and industry levels from January 2001 to September 2011 using data from the Job Openings and Labor Turnover Survey. Construction makes up less than 5 percent of employment but accounts for more than 40 percent of the large swings in the job-filling rate during and after the Great Recession. Leisure & Hospitality accounts for nearly a quarter of the large drop in recruiting intensity during the Great Recession. We show that industry-level movements in job-filling rates and recruiting intensity are at odds with the implications of the standard matching function in labor search theory but consistent with a generalized function that incorporates an important role for recruiting intensity per vacancy.
Steven J. Davis & R. Jason Faberman & John C. Haltiwanger, 2012. "Recruiting Intensity during and after the Great Recession: National and Industry Evidence," American Economic Review, American Economic Association, vol. 102(3), pages 584-88, May. citation courtesy of