Market update, April 5th 2022

More candidates and fewer jobs

Key metrics:

• 41,226 candidates online – a new record!

• 15,656 jobs online - up from 10,408 in early March

• 3,358 job postings and 1,514 candidates based in one of the EU countries

Job postings are down 27% in March

19,614 jobs posted in March, down from 27,198 in February (-27%).

Among the most impacted categories were Marketing, Project management, and database admin. Recruiters were hit the worst – demand is down by 68%.

The least impacted are core engineering categories, such as Node.js, Java/.NET, Data Engineers as well as mobile developers and gamedev.

Some companies keep hiring aggressively, others are scaling back

Here’s the February to March comparison table by the numbers of jobs published.

Many of these open positions are now outside of Ukraine – we have 2,366 job postings in Poland alone.

Notable in this list is the absence of two of the biggest Ukrainian outsourcing companies – EPAM and SoftServe.

Both EVO та Rozetka announced large restructuring (layoffs) of their business, hit hard by the war. These are huge e-commerce marketplaces in Ukraine but their IT departments are relatively small. We estimate they let go no more than 200 engineers, which could be easily absorbed by the market.

$8000 is the new top of the market

Top hires in March were around $8000, down from $9-10k we saw at the end of 2021.

In 2021 we had a joke that “$10k is the new $8k”. The joke is now on us – $8k is the new $8k.