Business Report: Effects of low unemployment on hiring

Business Report: Effects of low unemployment on hiring

HONOLULU (HawaiiNewsNow) - When you hire, there are two things you typically want – a choice of applicants – and the option to hire fast. The lower unemployment goes, the harder this becomes.

Number of unemployed per job opening:
2010 – 7
2011 – 6
2012 – 4
2013 – 3.5
2014 – 3
2015 – 2
2016 – 1.8
2017 – 1.4
2018 – 1

In the past few months this has actually gone below zero – more openings than unemployed. This affects average days to fill vacant jobs:

2008 – 22
2009 – 19
2010 – 16
2011 – 18
2012 – 21
2013 – 22
2014 - 23
2015 – 25
2016 – 27
2017 – 28
2018 – 31 (record high)

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