OVI for February 2022: Strong labor demand, demand for workers a third higher than in 2019

March 2, 2022

Positive movements on the labor market, which have been recorded since mid-2021, continue. According to OVI index for February 2022, labor demand is 72 percent higher than in February 2021 and 41 and 35 percent higher than in February 2020 and 2019 respectively. The most sought-after occupations in February this year were salesperson, cook, waiter, warehouse worker and bookkeeper. 43 percent of job advertisements offered permanent employment, while 44 percent offered fixed-term employment. Some 1.9 percent of job advertisements mentioned the possibility of working from home, while 3 percent of advertisements targeted pensioners, which is in line with the trend of higher demand for pensioners in the past months. 
 

 

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.