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Market update, July 2022
A long way to recovery for Ukraine
Note: All the numbers are our own, based on user activity on Djnni.
Candidates +240% y/y, job postings -21% y/y
Salaries fell for some categories but not others
It’s the buyer’s market – with some caveats
There are 54k candidates’ profiles on Djinni, up 50% from January.
Most of this growth is ‘active search’, candidates actively looking for jobs. Candidates in ‘passive search’ only grew by 16% (June/January).
The number of candidates weekly active on Djinni recovered fast and kept growing. Recruiters’ weekly active is still 20% below pre-Feb 24 highs.
The highest number of jobs online was 28,000 at the beginning of February. There was a big slump after the Russian invasion started and some recovery, but overall the market is still down 50%.
Current hiring freeze & layoffs in US/Europe markets only adds to the pressure.
Since there are fewer jobs and more candidates, the number of job applications skyrocketed — reaching 50,000 per week for the first time.
After the initial shock in early March, there was a bounce back. Yet there seems to be a depression in the average and the median salary starting in June.
We’ll have to wait a month or two to see if this is a blip or a longer-term trend. Subscribe to Djinni Analytics, and you’ll know as soon as we know.
More inbound, less active sourcing
Djinni has always been more about active sourcing, with recruiters making the majority of contact requests and candidates waiting for new opportunities to review.
The number of contact requests by recruiters fell dramatically after Feb 24.
Ukraine-only job postings fell from 60-70% in January to 40%.
Full-remote is getting more popular with Ukrainian companies, for obvious reasons – roughly half offer it. The share of full-remote employment for non-Ukrainian companies hiring through Djinni is even higher at 74%.
It’s a buyer’s market, with a caveat
Yes, there are more candidates online than ever, and a job posting will receive more applicants than ever. Candidates are getting fewer offers and thus are more responsive and more agreeable.
And yet - you still have to work to make a great hire.
Best candidates still have options to choose from, even in this market. They care about the project they want to work on, the team, and the interviewing process. Compensation still matters, and salaries are mostly held up.
It’s much easier to hire in this market but it takes work nonetheless. Good luck!
For Ukraine, it’s a long way to recovery so we better get started.