OVI index

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Source: The Institute of Economics, Zagreb


OVI for April 2022: Preparations for the tourist season intensify already strong labor demand


May 12, 2022


Positive trends on the labor market, which have been recorded for the past year, continue. OVI index for April 2022 shows that labor demand is 39 percent higher compared to April 2021, but also 25 percent higher compared to the pre-pandemic April 2019. These positive movements are partially the result of preparations for the upcoming tourist season. The most sought after occupations are salesperson, waiter and cook, while some 14 percent of advertisements are related to seasonal work, which is above the annual average. Some 45 percent of job advertisements offered fixed-term employment, while 40 percent of advertisements offered permanent contracts. Moreover, counties in the Adriatic part of Croatia were listed as job locations in about 32 percent of advertisements, which is also above the annual average. Some 1.5 percent of advertisements mentioned the option of working from home, while 3.4 percent of advertisements targeted pensioners.
 

 

What is OVI?

Online Vacancy Index (OVI) is a monthly index of online job advertisements developed by the Institute of Economics, Zagreb in cooperation with the web portal MojPosao. The index aims to provide timely information regarding current labor demands. OVI index is developed by means of simple enumeration of single new job advertisements whose application deadlines end within the same month for which the index is being calculated. Given that advertisements published by only one web portal are taken into account, the number of job advertisements is expressed as an index (with the base year being 2015). 

The index is to be interpreted in such a way that the values greater than 100 represent growth when compared to 2015, and accordingly, that the values less than 100 represent a decrease with respect to the base year. Index is seasonally adjusted using the X-12-ARIMA method.

 
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