Moticheck was live at KUKU Radio, where we talked about how to keep employees while the economy is booming. The labor market is very hot. The unemployment rate is at an all-time low. More than half of companies see a large increase in both the number of employees and business volumes. If there is money in the market, but work force inflow from other countries is limited, then workers are expected to move between local employers. Listening, involving, and retaining employees has never been more important in Estonia than it will be in the coming year.
Background information CV Centre’s labor market survey (Q3 results): Compared to 2019, employers sought significantly more labour in the fields of mechanics and engineering (+ 63%), construction and real estate (+ 55%) and industry and manufacturing (+ 53%).
The demand for labor also grew very fast in the IT sector, where employers published 50% more job offers in the third quarter of this year than in 2019 at the same time. Demand for IT professionals and executives increased by as much as 75%.