This article is based on data from MeetFrank Job Market Insights. For additional and per-track reports, visit this page.
Estonia’s economy is opening up like the doors in the recent VisitTallinn ad.
“Tallinn is opening!”, an ad by VisitTallinn – Image source
And we’re happy to share that this week, Estonia had its first day with no positive cases of COVID19 in nearly three months. 🙏
Now, what about the labor market? In this article, we’re giving you an overview of Estonia’s job market recovery outlook.
🦅 The bird’s-eye view of the Estonian job market is not too shabby. Here are the key takeaways from the recovery outlook:
- Average gross salaries have grown to a six-month high. 🤑
- The number of job offers is in a declining trend. 📉
- 3 Estonian startups attracted the most applicants in May. 👨💻
Hungry for more details? Let’s dig deeper and review how the Estonian job market is doing. 🕵
Job market overview: May vs June
The biggest trend of the last few months continues: there has been a clear decline in the number of active job offers in the past month.
In Estonia, the number of active job offers is down by almost 20% compared to a month ago. 📉
When we look at job seekers though, we see that the number of active job seekers is up by about 5% in the past month.
These key indicators paint a pretty straightforward picture of the recovery outlook. Employers are being cautious while an increasing number of job-seekers are looking for new opportunities.
As a whole, the market competitiveness has remained on more or less the same level in recent months.
Salaries in TOP 6 specialties
What about money? 💰 It looks like Estonian employers are happy to be hiring less, but offer higher salaries than before for the roles they do hire for.
The average gross salary offered in the Estonian job market is now €2,869, which is higher than at any point in the last 6 month.
Let’s take a closer look at the changes in salaries by specialty. First off, we see that based on May and April data, average offered salaries are up in nearly all specialties. The only exception being marketing & PR & media, where the average offered salary dropped by about 700EUR. 💸
Job-seekers’ expected salaries are also on a recovery trend. However, the expectations are still about 300EUR lower than they were in the beginning of the year for the market as a whole. The current average expected salary is €2,240.
Note that expected salaries have not gone up in all specialties. Job-seekers in software engineering, finance, marketing & PR & media and (tech) project management have raised their average expected salaries by about 100EUR each. 📈
At the same time, job-seekers in sales & business development and IT & sysadmin have lowered their expectations by 100EUR. 📉
Competition in TOP 6 specialties
The job market competitiveness in Estonia as a whole has remained quite stable over the past few months. However, we do see small fluctuations in the ease of finding a job per specialty.
For example, finding a job in software engineering, IT & sysadmin, marketing & PR & media and (tech) project management is now easier than before. 👨💻
At the same time, job-seekers in sales & business development and finance may now find it more difficult to find a job than before. 💼
TOP 10 Companies with the most applications in May 2020
Next, let’s take a look at which companies scored the most applicants in Estonia in May 2020. 🏃♀️
In the first place, we see our beloved unicorn Bolt. 🦄 Needless to say, Bolt is a true rockstar. Just about a week ago they announced a new funding round, having raised €100 million from Naya Capital. Yes, during a time of global turmoil. We’ll likely see Bolt in our top lists again.
The rest of the top 10 tells a pretty convincing story of the fields that had exciting work to offer in May 2020. For example, eCommerce is certainly booming right now: 3 companies in the top 10 offer services or tools to eCommerce (Katana MRP, Inbank, Outvio).
We also see 2 agencies that specialize in building digital products in the top 10: Nortal and Cyberland. The remaining two of the top 10 companies are perhaps also telling of the times: Invent Baltics, a consultancy helping technology firms and R&D organizations secure EU funding, and 99math, a multiplayer math game. 🎮
Welcome to the MeetFrank family!
Hello, newcomers! In the past week Orien Trade, ChallengeMe and Pet Retail joined the MeetFrank family. 🥳 See if any of their recent job offers strike your fancy: