Has labour market revived nowadays?

The Village

By Anna Sokolova

Commented by: Dmitry Larin, Head of Recruitment and Outplacement

A couple of years ago, at the height of the crisis, city residents who have become unemployed were unable to find a new job, sending their CVs and applying for jobs to no avail and posting sad posts on Facebook. Now it seems that frustration has - to a great extent - left the Moscow labour market. People quickly find new jobs and companies often publish announcements on interesting vacancies. We learned from the employment experts whether there is indeed serious revival noticeable in the market this spring, what it is due to and what professionals are particularly lacking.

Dmitri Larin
Head of Recruitment Services
The seasonal revival has rather ended than begun. June is near, so soon you can expect the usual summer standstill in the labour market. Although in the past year it was just in the summer months that the noticeable increase in the number of vacancies of our clients in recruitment could be observed, but it was an exceptional case. The spring activity is really there, but it began as early as in February.

This revival is manifested both through the growing number of vacancies handled by us (plus 15% in April, as compared to February) and through the growing number of incoming CVs and applicants’ activity. It can be easily seen that in the first quarter in most of job portals the ratio of the number of CVs to the number of vacancies shifted in favour of applicants approximately by 10% as compared to the same period in the last year: on the average, there were 10.5 CVs per one vacancy in 2016, and in this year the figure is slightly over 9.

Many persons look not simply for a job but for better job conditions. Those who in the crisis years of 2015 - 2016 were “just sitting plainly” and did not consider any new career opportunities, start slowly entering the labour market. Most people responding to job offers have a good job and would still have a close look at company, wages, employment benefits, prospects and so on. Working both with our employer clients and applicants, we can clearly see that the labour market, though not in its best condition in the recent years, is already quite stable and the current trend is a constructive one. The battle for talent goes on, amplifying in spring and abating in summer, at the same time taking a more marketing attitude, with vivid description of vacancies and attraction of candidates via social networks.