1. Market Signals
by Career Angels
The COVID-19 impact on
the European job market
- a summary of 45 weeks in 38 countries

2. Market Signals
The art of interpreting signals (precursors of trends) is – and always has been –
important in navigating financial markets and economies. To manage career
and/or job search processes wisely, it’s crucial to look at the signals of the job
market, which are inseparably embedded in the VUCA landscape of today's
world.
We’ve been keeping an eye on the number of job ads on LinkedIn in 18
European countries since Week 13 of 2020 – extended to 36, and ultimately 38
countries since Week 15 and 17 respectively – this allows us to measure a KPI that
gives quite a good feel of the overall trend on the job market. We analyze the
collected figures and observe if and what kind of trends there are, to leverage
them into better career management & more effective job search methods.
This specially prepared report summarizes all the information we’ve gathered
across 45 weeks of our observations. The quantitative data has been completed
with analyses prepared for each region and country for a full overview of the
European job market situation amid COVID-19.
May this report serve you well!
Your Career Angels Team
Status: February 2021
© by Career Angels

3. Germany
(-55.3%)
Italy
(-47.4%)
Netherlands
(-45.3%)
Norway
(+375.7%)
Estonia
(+245.5%)
Lithuania
(+187.8%)
Top 3*
Biggest overall increase*: Biggest overall decrease:
*for countries that post more than 1000 job ads on LinkedIn

4. Albania
The number of job ads published on LinkedIn in Albania has been
mostly stable for the past 45 weeks. The number shot up by 448% in
Week 39 - we suspect that it was a glitch. A week after that, everything
went back to normal and has remained at a similar level since.
Overview
Initial:
199 job ads
Week 15
Best result:
806 job ads
Week 39
Worst result:
96 job ads
Week 34

5. Andorra
Overview
Initial:
5 job ads
Week 15
Best result:
37 job ads
Week 52
Worst result:
1 job ad
Week 20
Andorra is a country where the smallest number of LinkedIn job ads in
Europe is published. Despite visible weekly changes, the overall trend
has been positive. Between Week 44 and Week 53, the country
experienced a more significant increase and reached its highest result
of 37 job ads in Week 52.

6. Austria
Until Week 34, Austria's chart was characterized by smaller weekly
changes but a visible overall decrease in the number of LinkedIn job
ads. Week 34, with its sharp fall of -28%, started a period of more diverse
results. Since the first week of 2021, the country has been experiencing
a significant upward trend.
Overview
Initial:
87,036 job ads
Week 13
Best result:
88,256 job ads
Week 14
Worst result:
49,844 job ads
Week 35

7. Belgium
Overview
Initial:
134,890 job ads
Week 13
Best result:
153,992 job ads
Week 4
Worst result:
87,948 job ads
Week 34
Belgium experienced its lowest number of job ads published on
LinkedIn in Week 34 (-24%), almost exactly in the middle of our
observations. Since then, the number has been going up - with some
exceptions, the biggest one in the last week of 2020 (-17%). The best
result was noted in Week 4: 153,992 published job ads.

8. Western Europe
Western Europe experienced very drastic changes in the number of
job ads published on LinkedIn in comparison to all the regions.
Germany perfectly exemplifies this tendency – the chart shows very
severe ups and downs. The countries followed similar tendencies for a
while, but since Week 34 they became more diverse.

9. Bosnia & Herzegovina
Overview
Initial:
33 job ads
Week 15
Best result:
167 job ads
Week 52
Worst result:
33 job ads
Week 15
Bosnia and Herzegovina is one of the countries that never went below
the initial number of LinkedIn job ads. The difference between Week 15
and Week 52 (the highest result) is an impressive increase of 406%!

10. Bulgaria
Overview
Initial:
5,160 job ads
Week 13
Best result:
5,160 job ads
Week 13
Worst result:
2,959 job ads
Week 34
In the first 10 weeks, Bulgaria noted a -40% decrease in the number of
job ads published on LinkedIn. The number began rising until Week 34,
when the country saw a sharp weekly decline of -27%. A few weeks of
an upward trend continued, followed by a gentle negative tendency.
Since Week 3, the number is on the rise again.

11. Croatia
The fluctuations in the number of job ads published on LinkedIn in
Croatia have become gradually less extreme, but more frequent. The
number has never gone above the initial level, and as of Week 5 of
2021, it is 35% lower than in Week 13.
Overview
Initial:
1,393 job ads
Week 13
Best result:
1,393 job ads
Week 13
Worst result:
788 job ads
Week 34

12. Cyprus
Overview
Initial:
302 job ads
Week 17
Best result:
655 job ads
Week 5
Worst result:
302 job ads
Week 17
Cyprus is without a doubt one of the winning countries among those
we've been observing, with its number of job ads published on LinkedIn
never falling below its initial level of 302. The most recent result is also the
highest one - a 117% increase compared to Week 17.

13. Southeastern Europe
When it comes to the number of LinkedIn job ads, Southeastern
Europe is the most diverse region among the ones we observe. It
includes the biggest number of countries with different types of
economies, hence the discrepancies in the results. The country that
noted both the highest and the lowest results was Montenegro.

14. Czechia
Overview
Initial:
55,175 job ads
Week 13
Best result:
56,048 job ads
Week 14
Worst result:
27,365 job ads
Week 20
Between Week 14 and Week 18, Czechia experienced a sharp
decrease of -49% in its number of LinkedIn job ads. Week 23 brought a
more stable period, with a few exceptions, such as a decrease of
-19.6% in Week 41 or a 19.2% increase in Week 2 of 2021.

15. Denmark
Denmark has experienced many fluctuations in the number of job ads
published on LinkedIn. The most notable changes happened between
Week 30 and Week 35 (-33.6% decrease) and then between Week 2
and Week 4 of 2021, with an increase of 39% which was the start of the
country's best period so far.
Overview
Initial:
14,554 job ads
Week 13
Best result:
19,694 job ads
Week 5
Worst result:
11,050 job ads
Week 18

16. Estonia
Estonia's graph represents a nearly stable upwards trend, making it one
of the most successful countries among the ones we observe.
Between Week 2 and Week 5, the country noted its most significant
increase so far (41.5%), with the most recent result being 144% bigger
than the initial number.
Overview
Initial:
423 job ads
Week 13
Best result:
1,033 job ads
Week 5
Worst result:
255 job ads
Week 18

17. Finland
At first, Finland's graph was relatively stable. Then, between Week 31 and
Week 33, the country experienced a sharp decrease of -33.7% in its
number of LinkedIn job ads. Despite significant weekly and bi-weekly
changes, the baseline number stayed similar until Week 2, when the
number shot up by 71% over three weeks and continues to grow.
Overview
Initial:
10,818 job ads
Week 15
Best result:
12,462 job ads
Week 5
Worst result:
6,480 job ads
Week 42

18. Northern Europe
The initial level of LinkedIn job ads wasn’t much different from the
weekly results. In Week 30, though, Norway noted a significant 133%
increase, which brought the numbers up in the whole region. Since
then, the changes started to become more dynamic for all the
countries, especially Iceland that became more unstable.

19. France
Overview
Initial:
1,307,443 job ads
Week 13
Best result:
1,523,786 job ads
Week 44
Worst result:
807,447 job ads
Week 3
The number of job ads published on LinkedIn in France has been very
unstable. The biggest changes happened between Week 33 and
Week 35 (a -24% decrease), and then between Week 41 and Week 44
(a 35% increase). Since then, the number has been falling and is
currently below the initial level.

20. Germany
Overview
Initial:
1,830,319 job ads
Week 13
Best result:
2,212,906 job ads
Week 44
Worst result:
604,586 job ads
Week 52
Germany is also one of the countries with a lot of instability in its
number of LinkedIn job ads. After decreasing until Week 23, the
number kept growing and reached its highest result (2,212,906 job ads)
in Week 44. Since then, however, it has been decreasing again, with the
most drastic change happening in Week 52 (-61%).

21. Greece
Overview
Initial:
6,033 job ads
Week 15
Best result:
6,829 job ads
Week 5
Worst result:
3,400 job ads
Week 44
Despite a few bigger dips, such as the one in Week 44 (-33% decrease),
Greece's number of job ads published on LinkedIn has grown over the
course of our observations. As of Week 5, the number is 13% higher
than the initial result.

22. ...we have been tracking the level of published job ads
on Linkedin since Week 13?
...we have collected & analyzed 3600 data points?
...we have published 10 special reports?
...you can find our daily & weekly updates here:
www.LinkedIn.com/showcase/Market-Signals
→ Click Follow!
Did you know that...

23. Hungary
Overview
Initial:
23,466 job ads
Week 13
Best result:
23,466 job ads
Week 13
Worst result:
11,940 job ads
Week 35
Right at the start of our observations, Hungary experienced a significant
decrease in its number of LinkedIn job ads - a -45.5% decrease over
six weeks. With the exception of another fall in Week 35, the number
has been slowly growing again, although it still hasn't reached its initial
level.

24. Visegrad Group
Until Week 33, Visegrad Group was actually one of the regions that
had seen the most positive changes in the number of LinkedIn job
ads. Then, the situation changed and all the countries started
experiencing sudden shifts and significant decreases (e.g. Poland,
Czechia & Slovakia in Weeks 39, 41 & 3 respectively).

25. Iceland
Overview
Initial:
85 job ads
Week 15
Best result:
160 job ads
Week 52
Worst result:
46 job ads
Week 34
After a sharp drop in Week 34 (a decrease of -41%), it took until Week
42 for Iceland to surpass its initial level of job ads published on
LinkedIn. Afterwards, the results alternated between increases and
decreases. The country reached its best result in Week 52 and has
fallen back down since, but is still above the initial level.

26. Ireland
Overview
Initial:
48,437 job ads
Week 15
Best result:
51,316 job ads
Week 17
Worst result:
22,429 job ads
Week 34
After a few turbulent months and reaching its lowest result in Week 34,
Ireland's number of job ads on LinkedIn started stabilizing around
Week 39. Despite a more significant increase in Week 2 of 2021 (26%),
the number still remains below its initial level.

27. Italy
Overview
Initial:
185,019 job ads
Week 13
Best result:
185,019 job ads
Week 13
Worst result:
80,691 job ads
Week 35
Italy's job market has been very unstable, with its number of job ads on
LinkedIn fluctuating often. In Week 23, the country experienced a sharp
decrease of -51%. Between Week 39 and Week 45, the number grew
by 108%, only to fall down again, reaching one of its worst results in
Week 3 of 2021.

28. Latvia
Overview
Initial:
269 job ads
Week 13
Best result:
637 job ads
Week 5
Worst result:
159 job ads
Week 22
Latvia's overall trend has been very positive, with its most recent
number of job ads published on LinkedIn being its best result so far, and
surpassing the initial level by 137%! The chart is characterized by very
gentle changes.

29. Baltics
The region started with an increase in the number of published job ads
on LinkedIn and quickly went above the initial job ad level. Even
though the changes were very severe, each decrease has been
followed by an increase, keeping the numbers stable. Overall, all Baltic
countries seem to have followed similar tendencies.

30. Lithuania
Overview
Initial:
963 job ads
Week 13
Best result:
2,140 job ads
Week 5
Worst result:
621 job ads
Week 18
Lithuania is another country that experienced a lot of growth when it
comes to the number of job ads published on LinkedIn. Apart from
the first few weeks, the country has noted almost constant increases.
The most recent result is also the best one - it's 122% higher than the
initial level!

31. Luxembourg
Overview
Initial:
11,966 job ads
Week 15
Best result:
12,491 job ads
Week 16
Worst result:
6,305 job ads
Week 47
At first, the number of LinkedIn job ads in Luxembourg was visibly
falling but increasing slightly every two or three weeks. After a period
of visible decrease, the country experienced a few weeks of stability,
which ended with a noticeable increase that seems to be the start of
a rising trend. Still, the numbers are lower than in the initial Week 15.

32. Malta
Overview
Initial:
985 job ads
Week 17
Best result:
1,690 job ads
Week 2
Worst result:
812 job ads
Week 37
Malta's changes in the number of LinkedIn job ads started with
alternating rises and falls. After 20 weeks, the country experienced its
lowest period, reaching the worst result of 812 job ads in Week 37. The
situation got better since then, and now the job ad level is the highest
ever. The best result was noted in Week 2 of 2021 - 1,690 job ads.

33. Moldova
Overview
Initial:
139 job ads
Week 15
Best result:
324 job ads
Week 5
Worst result:
79 job ads
Week 17
Despite some visible decreases in the number of LinkedIn job ads,
Moldova seems to be following an overall upward trend – it reached
the best result (324 job ads) in Week 5 of 2021. Worst result was noted just
at the beginning of the pandemic in Week 17 of 2020 (79 job ads).

34. DACH
Austria, Germany and Switzerland’s number of LinkedIn job ads has
not been stable. We have observed very drastic and dynamic
changes in every country in the region, but Germany seems to have
experienced the most severe fluctuations. There were many moments
when all 3 markets reacted in the same way at the same time.

35. Montenegro
Overview
Initial:
12 job ads
Week 15
Best result:
193 job ads
Week 43
Worst result:
9 job ads
Week 27
The number of LinkedIn job ads in Montenegro was very stable from
Week 15 to 40. Then, in Week 41 there was a very drastic increase of
+691.67% which started a period of severe weekly changes. In spite of
that, the numbers are higher than at the beginning of the pandemic.

36. Netherlands
Overview
Initial:
579,619 job ads
Week 15
Best result:
605,036 job ads
Week 42
Worst result:
236,867 job ads
Week 3
The Netherlands started with a visible stable decrease in the number
of LinkedIn job ads that lasted for 3 weeks. Then, increases and
decreases started to alternate bi-weekly until Week 33. Since then we
have observed severe fluctuations between positive and negative
trends. Worst result so far – Week 3 of 2021.

37. North Macedonia
Overview
Initial:
61 job ads
Week 15
Best result:
199 job ads
Week 44
Worst result:
48 job ads
Week 18
North Macedonia has been following an overall upward trend in the
number of LinkedIn job ads since the beginning of the pandemic.
There was a period of decrease (between Week 44 & 50), but for most
of the time, the numbers have been rising.

38. Norway
Overview
Initial:
4,537 job ads
Week 15
Best result:
21,584 job ads
Week 5
Worst result:
3,538 job ads
Week 19
For the first 14 weeks the number of LinkedIn job ads in Norway was very
stable with almost no changes at all. Then, in Week 29, the numbers rose
significantly and since then we have observed a rising tendency with
only a few decreases. Since Week 2 of 2021, Norway has been in a
steady increase. Best result so far – Week 5 of 2021 (21,584 job ads).

39. Benelux
The countries of this region (Belgium, Luxembourg and Netherlands) seem
to have been following similar trends that sometimes happened at
different time. It’s also a region with very visible alternating trends – many
ups and downs. The Netherlands has seen the most severe fluctuations.

40. Poland
Overview
Initial:
173,003 job ads
Week 13
Best result:
208,141 job ads
Week 26
Worst result:
118,044 job ads
Week 2
Poland’s number of LinkedIn job ads was decreasing for the first 5
weeks of the pandemic, only to rise significantly directly after. We
have observed an overall downward trend since then, that was
disturbed by a few short periods of increase like at the beginning of
2021 - there's been a steady increase.

41. Portugal
Overview
Initial:
76,448 job ads
Week 15
Best result:
106,054 job ads
Week 31
Worst result:
60,941 job ads
Week 40
After a few weeks of decrease in the number of LinkedIn job ads, there
was a very significant increase that lasted for 11 weeks and peaked
with 106,054 job ads - the best result so far. A period of decrease
followed and then, a few weeks of constant change. However, since
the end of 2020, the numbers have been rising again.

42. Romania
Overview
Initial:
17,470 job ads
Week 13
Best result:
17,470 job ads
Week 13
Worst result:
9,297 job ads
Week 34
The first reaction of Romania's number of LinkedIn job ads was a
strong decrease - by the time the numbers started to rise again it was
a -36% change. Beside the one additional drastic decrease in Week 34,
the country has been following an overall upward trend, though it
hasn't yet reached the initial level.

43. Serbia
Overview
Initial:
527 job ads
Week 15
Best result:
1,402 job ads
Week 52
Worst result:
476 job ads
Week 17
The number of job ads published on LinkedIn in Serbia has shown an
almost constant upward trend. Two significant exceptions: Week 35 &
48 with sudden severe decreases, but the numbers have never fallen
below the initial level. At the beginning of 2021, Serbia started
following a downward trend.

44. Southern Europe
The changes in the number of LinkedIn job ads in Southern Europe fell
below zero for almost 50% of the time. This region noted severe
fluctuations between rises and falls and has never been stable. The
best result in the region was noted in Greece in Week 46, and the
worst in Spain in Week 53 of 2020.

45. Slovakia
Overview
Initial:
7,380 job ads
Week 13
Best result:
7,478 job ads
Week 32
Worst result:
4,886 job ads
Week 20
During the first three weeks, the number of LinkedIn job ads in Slovakia
fell by 31%. Then, severe fluctuations between rises and falls started
and have continued ever since. The worst result was noted in Week 20
(4,886 job ads) and the best in Week 32 (7,478). Since the beginning of
2021 the numbers have fallen far below the initial job ad level.

46. Slovenia
Overview
Initial:
835 job ads
Week 13
Best result:
1,377 job ads
Week 37
Worst result:
260 job ads
Week 44
Until Week 35 the number of LinkedIn job ads changed quite
dynamically. A dramatic fall happened in Week 42, however the worst
result, 260 job ads, was noted two weeks later. Since then, the numbers
have been slowly and steadily increasing.

47. Spain
Overview
Initial:
168,784 job ads
Week 15
Best result:
203,615 job ads
Week 43
Worst result:
73,497 job ads
Week 2
After a period of a downward tendency, Spain experienced a very
significant rise which ended with the highest result ever noted in that
country – 203,615 job ads. Then, the numbers were falling dramatically
until Week 2 of 2021 (the worst result so far - 73,497 job ads). Since then,
we have observed a very strong and steady increase.

48. Sweden
Overview
Initial:
70,313 job ads
Week 15
Best result:
88,540 job ads
Week 5
Worst result:
44,934 job ads
Week 28
The number of LinkedIn job ads in Sweden showed a downward trend
at the beginning. Then a rising period came - it started with a
significant increase in Week 31. Sweden maintained this tendency
until Week 42 when a period of fluctuations began. After a 3-week fall,
the numbers started to rise again at the beginning of 2021.

49. Switzerland
Overview
Initial:
160,861 job ads
Week 15
Best result:
172,892 job ads
Week 33
Worst result:
112,279 job ads
Week 39
Switzerland's number of published job ads was alternating between
increasing and decreasing almost weekly until Week 33 when we noted
the best result (172,892 job ads). After that, there was a dramatic fall that
brought the numbers down to 112,279 in Week 39 (the worst result). Since
then, everything is back to how it was before the fall.

50. Ukraine
Overview
Initial:
131,017 job ads
Week 13
Best result:
177,380 job ads
Week 46
Worst result:
121,983 job ads
Week 34
The number of LinkedIn job ads in Ukraine has been very unstable. It's hard
to spot one leading tendency, although the job ad level is higher than in
the initial Week 13, which indicates a rather rising trend. The most
dramatic fall took place between Week 30 and 34. The latter brought the
numbers down to 121,983 - the worst result since the beginning.

51. Conclusions
different strengths & level of development of the economies
each government decided to manage CV-19 differently (from almost no
to (almost) full lock-down or financial support for companies and citizens)
the number of published job ads on LinkedIn is only one of many KPIs (e.g.
unemployment) that need to be taken into consideration.
It is impossible to come to a general conclusion about how the pandemic
has impacted the European job market as a whole for the following reasons:
Worth mentioning:
Countries that have seen almost only increases from the beginning:
Bosnia & Herzegovina, Estonia, Latvia, Lithuania, North Macedonia,
Norway, Serbia
Countries that have never reached the initial job ad level:
Austria, Croatia, Czechia, Hungary, Ireland, Italy, Luxembourg

52. More job ads:
Albania
Andorra
Belgium
Bosnia & Herzegovina
Cyprus
Denmark
Estonia
Finland
Overall results since 17.04.2020:
Fewer job ads:
Austria
Bulgaria
Croatia
Czechia
France
Norway
Portugal
Serbia
Spain
Sweden
Switzerland
Ukraine
Greece
Iceland
Latvia
Lithuania
Malta
Moldova
Montenegro
North Macedonia
Germany
Hungary
Ireland
Italy
Luxembourg
Netherlands
Poland
Romania
Slovakia
Slovenia

53. Germany
(-55.3%)
Italy
(-47.4%)
Netherlands
(-45.3%)
Montenegro
(1116.7%)
Andorra
(440%)
Norway
(375.7%)
Top 3
Biggest overall increase: Biggest overall decrease:

54. If you are a senior candidate
who might need support / guidance:
You can access the following services completely confidentially and
free of charge:
- CV Report
- Career Consultation
Email Bichl.Sandra@CareerAngels.eu who will personally match you
with the most relevant Career Consultant. To save time: add your CV
and availability for a Skype call.
If you want to support your (future) former employees:
Request an offer for outplacement services by sending an email to
Zadrozna.Anna@CareerAngels.eu.
For further information visit: CareerAngels.eu/B2B/Outplacement

55. If you’re interested in following the CV-19 situation
in the future, check out our Market Signals page
for daily updates and weekly reports!
reports summarizing the European job market situation
from the beginning of the COVID-19 pandemic
a special report on the top 10 economies in Africa
a special report on the Americas
a comparison of the number of LinkedIn job ads &
official unemployment rates from Eurostat in 30 countries
So far, we have also published:
www.LinkedIn.com/showcase/Market-Signals

56. More tips & resources (hyperlinked)
LinkedIn Company Page
Follow for daily tips & up to date advice.
Market Signals
Regular updates on the European job market – daily posts and
weekly reports on Saturdays.
Hidden Job Market
A group on LinkedIn with weekly job ad gems for experienced
managers and executives.
Udemy Course
Every step of the job search explained - backed by research!
Incl. realistic goal setting, candidate USP & positioning, CV for humans
& ATS, hacking LinkedIn, (online) interviews.
YouTube Channel
Subscribe and watch recorded lectures & webinars.