The labor market is picking up so much that companies are hiring faster these days, a welcome change for candidates used to a long, drawn-out hiring process.
Between April and June, the number of days a job stays vacant fell by a day, according to USA Today. Using data from staffing company DHI Group, it found that the average duration of a vacancy dropped to 28.3 days in June.
Companies are interviewing fewer candidates and making job offers faster today because the 4.9% unemployment rate has made it tougher to find workers for all sorts of jobs. The rush for workers is taking place throughout the labor pool as companies try to fill everything from warehouse jobs to IT management positions.
They’re also adjusting to a tighter job market by changing their strategies, USA Today said. Nearly half are now widening their search for candidates to encompass a larger area, and 12% said they’ve relaxed their degree or skill requirements — good news for people who have been stuck on the sidelines because they don’t have a college degree.
For harder-to-fill jobs that require more specialized skills like IT or financial management, employers have resorted to group interviews to speed things up. “Companies are compressing interview rounds into shorter periods, conducting them with panels of managers, or using Skype,” USA Today said.
So if your next job interview has you facing not just one but a roomful of people and their questions, take a deep breath: This is what a recovery looks like.