
Research center rabota.by analyzed demand, supply, competition and levels of wages in the labor market for the last year.
Demand and supply in the labormarket
Number of jobs on the website rabota.by in the peak (September 2024 year) increased by 30.1% compared with January 2024 year. By the end of the year, the tempo growth of vacancies slowed, which is related to seasonality. In the winter holiday period annually the activity of employers and job seekers decreases.
In the early year the seeker activity was low, but in the second half of 2024 the year it increased. And by the autumn number of the posted
on the site rabota.by questionnaires increased by 33.7% compared with January 2024 year.
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Who has it easier: hiring to recruit personnel or job seekers to seek jobs?
In studying the situation in the labor market, the research center rabota.by besides offers of jobs and candidates analyzes another important indication of the competition for jobs (index rabota.by). Index rabota.by – is the ratio of the number of resumes to the number of job vacancies. The higher the increase of competition, the more difficult it is to find jobs for candidates, and the easier it is for employers to recruit staff.
Competition is considered normal when there are 5-6 to 6 applications for one offer of job candidates. If this indicator is 4 and lower, the market is deficient of candidates, it becomes easier to seek jobs. And if 7 and higher, the
labor market is considered employment, seeking jobs becomes easier.harder.
In the 2024 year in the average competition
in the labor market was at 5-6 resumes per job, only by the end of the year this indicator increased to the level of 7.8 resume for a vacancy.
But, it is important to understand that the market for labor is not homogeneous. In different professional areas the competition for jobs is different.
In 2024 year a deficit of cadres was observed in spheres related to mass recruitment:
- Workforce (per one offer and job in 2024 year there were 4.7 candidates candidates)
- Manufacturing, service service (per one offer and job in 2024 year was 4,4 applications of candidates)
- Construction and real estate (per one offer and job in 2024 year was 5,1 candidate questionnaires)
- Retail trade (per one offer and job in 2024 year was 4,2 candidates)
- Tourism, hotels and restaurants (per one single offer and job in 2024 year was 4,4 candidates)
- “Marketing, Advertising, PR” (per one offer and job in 2024 year was 18,7 candidate questionnaires)
- “Administrative personnel” (per one offer and job in 2024 year was 18,6 candidates)
- “Information technology” (per one offer and job in 2024 yearThere were 14.1 14.1 candidates)
- Median wage – the median value of the levels of wages , when 50% of companies pay less than this value, and 50% – more.
- Wage wages are after taxes, they don’t take into account the type of employment, the schedule of work and additional monetary rewards in the form of benefits and bonuses.
- In 2024 year there was high demand for personnel (the number of vacancies on rabota.by increased)
- Majority of employers (57%) feel a deficit of recruitment in 2024 years (according to results of the research rabota.by, conducted in December 2024), the deficit of staff was observed in working specialties and spheres, related to mass recruitment
- Employers have still expanding the woron of hiring, expanding the age limits (47% of respondents in the December survey rabota.By said, that they started to attract more younger or more age candidates) This trend will be relevant in 2025
- Employers in 2024 tried to retain staff, since it is cheaper than torecruitnewemployees.Employersareactivelydevelopingandupdatingsystemsofmotivationforemployees.Focusonretentionwillcontinueandin2025year
- Activelygrewwageswereincreasing:thegrowthofthemedianproposedwagewas19.4%fortheyear.Graduallygrowthinwageswillslowin2025year
- Employersin2024yearweremoreattentivetoimprovingskillsandtrainingstaff
- The importance ofhuman-centeredness,that is.recruiterstakeintoconsiderationoftheneedsanddesiresofemployeesoffermoreflexibleconditionsofwork(e.g.,hybridscheduleandremotework)
Although the number of resumes in these spheres has increased, the number of job openings has increased at an more rapid pace.
The most difficult to employ in 2024 were candidates from the sectors:
But, it is noteworthy that IT and marketing were the fastest growing in
2024 year. The number of offers for jobs in IT in December 2024 of the year compared with January increased
by 24.4%, and in marketing by 12.3%. But the share of such advertisements about work among all placed on the site rabota.by, remains low. So, in the base on the site only 6% of advertisements about jobs in companies from the IT-sphere and 3.5% of advertisements for positions in the marketing sphere.
How has 2024 year affected the labor market ? What to expect from 2025 year?
Informationpreparedbasedonthefreefreeopenserviceofanalyzingthelabor market