Recruiting IntensityBloomberg News discusses "Why Employers Are Slow to Fill Jobs: Business Class" based on work by Stephen J. Davis, Jason Faberman, and John Haltiwanger.
"...recruiting intensity per vacancy plummeted during the recession. Despite a modest rebound, recruiting intensity in 2011 remains 20 percent below 2006. Lower recruiting intensity leads directly to a slower pace of job filling.
Why did recruiting intensity plummet? More to the point, why hasn’t it returned to pre-recession levels? Labor-market slack is part of the answer. Many employers see little downside to passing on marginally qualified applicants when new candidates arrive daily. There is no rush to hire. Anecdotal evidence suggests that some employers see the current situation as an opportunity to upgrade labor quality, hiring only the most outstanding candidates."