2015 Job Vacancy Survey
Why Measure Relative Demand?
Number and characteristics of vacancies describe the stock of unfilled jobs but, by themselves, don't provide an indication of demand relative to other openings. Are 3,600 openings in accommodation and food services a lot or a little? One way to assess demand is to compare the share of job openings to the share of private jobs.
Establishing a Measure of Average Demand for Workers
Evaluating relative demand by industry of occupation is accomplished by comparing an industry's or occupation's share of job vacancies to its share of jobs. For example, if the accommodation and food services industry accounts for 13 percent of private jobs and 13 percent of job openings, we can say that demand for workers in that industry is proportional to its employment, or AVERAGE. If its share of job vacancies is greater than its share of jobs, demand is disproportionately high, or ABOVE AVERAGE. If its share of openings is less than its share of jobs, demand is disproportionately low, or BELOW AVERAGE.
- AVERAGE => share (job vacancies) = share (jobs). Expressed as a ratio = 1
- ABOVE AVERAGE => share (job vacancies) > share (jobs). Expressed as a ratio > 1
- BELOW AVERAGE => share (job vacancies) < share (jobs). Expressed as a ratio < 1