Job market revival: Online job data shows increase in hiring intentions
The number of jobs posted online via job boards and corporate career sites in December 2021 has shown a 24% increase year-on-year, according to data analysis conducted by Simplify.hr.
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“Over and above local and global job stock trends is also the very real reality of new ways of working,” says Marc Privett, general manager at Simplify.hr. A report by McKinsey Global Institute reads, “The pandemic accelerated existing trends in remote work, e-commerce, and automation, with up to 25% more workers than previously estimated potentially needing to switch occupations.”
The December 2021 stats provided by Simplify.hr indicated a 25% increase in comparison to December 2019. This strongly indicates both a positive upturn of the local job market and, potentially, new types of jobs and modes of working.
Says Privett: “Covid-19 has shone a light on the actual physical aspect of work. For the first time, it has become not only about ‘how’ we do our work, but also ‘where’! The implications of this are already evident across multiple industries and job types, infusing a more traditional approach with greater flexibility and somewhat altered KPIs and other metrics.”
Industry sectors yielding the greatest job stock growth in comparison to end 2020 include: consultancy (56%), science & research (52%), logistics (43%), human resources (42%), construction (42%), retail (42%), marketing/ media (41%) and health (40%).
These stats, with the exception of the leisure and hospitality sectors that are still in decline, are similar to reports coming out of the United States. A recent release by the Bureau of Labor Statistics (US Department of Labour) indicates a similar recovery by end 2021 with non-farm employment (goods, construction, and manufacturing) showing an increase of 199,000 in December alone, together with a drop in unemployment of 0.3%. Specific sectors enjoying growth include professional and business services, manufacturing, construction, transportation, warehousing.
This is in contrast to the International Labour Organisation’s World Employment and Social Outlook Trends 2002 report, released in January that says, “a return to pre-pandemic performance is likely to remain elusive for much of the world over the coming years.” But that also: “Recovery patterns vary significantly across regions, countries and sectors.”
“A combination of a slight upward shift in our local job market, coupled with this transformed ‘view’ of work, creates for a dynamic environment in South Africa,” concludes Privett. “To ensure ongoing growth and success, it is key for organisations and business owners to continue facilitating these work transitions and to keep the new ways of working top of mind when recruiting and retaining talent.”
