- Hans Weber
- June 6, 2023
There is a job market record optimism
ManpowerGroup Czech Republic on June 14, 2022 published the results of the “ManpowerGroup Labor Market Index” survey for the third quarter of 2022.
Employers in the Czech Republic are again reporting strong recruitment plans for the third quarter of 2022. 38% of employers expect an increase in the number of employees, 17% predict a decrease and 38% of employers do not expect any changes. Based on these data, the Net Labor Market Index for the Czech Republic for the first quarter of 2022 shows a value of + 21%. “The need for companies to hire new employees continues to increase and the values of the ManpowerGroup labor market index have reached record levels since 2008, when the survey began in the Czech Republic. We observe recruitment optimism in all sectors of the economy, but mostly in the financial sector and real estate. Continuing supply chain difficulties, rising inflation and energy prices are not having a negative effect on the labor market and unemployment has fallen to the level of 2018. However, given the great uncertainty in the economy, it is very unlikely that it will fall below 3%, “said Jaroslava Rezlerová, CEO ManpowerGroup.
Employers expect an increase in the number of employees in 10 out of 11 Czech industries, and a decrease in only one. Compared to the previous quarter, optimism increased in 8 out of 11 sectors and weakened in three. Year-on-year, recruitment plans are stronger in 10 out of 11 sectors and weaker in only one. Employers in the Banking, Finance, Insurance and Real Estate sectors have the strongest recruitment plans with a Net Labor Market Index of 56 (66% will recruit and 10% will lay off). Compared to the previous quarter, employers in the sector report an increase in optimism of 32 percentage points, and a year-on-year increase of as much as 50 percentage points. Employers in the Other sector with a Net Labor Market Index of -10 expect the weakest recruitment plans. Compared to the previous quarter, the Index weakened by 15 and 10 percentage points year on year.
A survey conducted in May 2022 showed that 49% of Czech employers face problems in filling their vacancies. Large employers (250+ employees) face the lack of talent the most – 57% of them report that they cannot find enough suitable candidates in the long run, 48% of small companies (10-49 employees) and 14% of medium-sized companies (50+ employees) -249 employees) that is 47%. The smallest problem with the lack of suitable candidates (42%) is reported by micro companies (up to 10 employees). “The fact that every second employer finds it difficult to fill their vacancies remains a major obstacle to the competitiveness of Czech companies. However, compared to years From 2018 to 2021, employers experienced some relief. The involvement of Ukrainian refugees in the labor market, who have helped fill vacancies in industry, logistics, gastronomy or agriculture, may also be a partial explanation for the re-acceleration of labor in the labor market after the pandemic subsided, ”said Jaroslava Rezlerová, CEO of ManpowerGroup.
According to Jaroslava Rezlerová, “there was the biggest change in the labor market in 2020 and the most fundamental change in the required skills since the Second World War. Demand for some skills was only temporarily affected by the pandemic, but rather accelerated most long-term structural changes, such as declining people’s interest in manufacturing, the speed of robotics and software automation, and the need to rapidly retrain large numbers of employees. All of this has further increased the company’s emphasis on the soft skills of its employees. ” According to our survey, in times of rapid change and great uncertainty, employees most often lack the following skills: Creativity and originality (24%), Responsibility, reliability and discipline (22%), Logical thinking and problem-solving (20%), Resilience, ability manage stress and adaptability (20%), Collaboration and teamwork (19%), Critical and analytical thinking (18%), Learning and curiosity (18%), Initiative (17%), Leadership and social influence (15%).
The ManpowerGroup Labor Market Index survey is conducted quarterly to monitor employers’ plans to reduce or increase the number of employees during the following quarter. The Czech Republic is one of 40 countries surveyed. As part of the ManpowerGroup Labor Market Index for the third quarter of 2022, employers from a representative sample of 515 employees in the Czech Republic were asked and asked the same question: “How do you expect the total number of employees in your company to change in the third quarter of 2022 compared to the current quarter? ” The survey has been running for 60 years and has become one of the most trusted recruitment surveys in the world. The ManpowerGroup Labor Market Index is based on surveys of almost 40,000 public and private employers across 40 countries and is considered a highly credible economic indicator. The ManpowerGroup Labor Market Index is now conducted in the following 40 countries and regions: Argentina, Australia, Belgium, Brazil, Czech Republic, China, France, Finland, Guatemala, Hong Kong, India, Ireland, Italy, Israel, Japan, South Africa, Canada Colombia, Costa Rica, Hungary, Mexico, Germany, Netherlands, Norway, Panama, Peru, Poland, Portugal, Austria, Romania, Greece, Singapore, Slovakia, Spain, Sweden, Switzerland, Taiwan, Turkey, United Kingdom and United States American.
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