Hierarchical Taxonomy Permalinks Wordpress

I have a custom post type "listings" and I have created a custom taxonomy "listings_category".

Everything works fine except Hierarchical URLS for the taxonomy.

For instance, for standard hierachical wordpress categories we would see:

http://www.domain.com/category/tv/video/

So I want my custom taxonomy to look like this:

http://www.domain.com/listing-category/tv/video/

But wordpress seems to leave out the parent term from the URL, leaving me with:

http://www.domain.com/listing-category/video/

Here is the code I've used to create the taxonomy:

add_action('init', 'create_taxonomies', 10);
function create_taxonomies(){

    register_taxonomy(
    'listing_category',
    array('listings'),
    array( 
      'hierarchical' => true,  
      'label' => __('Category'),
      'sort' => true,
      'args' => array('orderby' => 'term_order'),
      'rewrite' => array('slug' => 'listing-category'),
    )
  );   

}