Global Job Market in July 2020: What’s new?

by | Jul 8, 2020 | MeetFrank Insights | 0 comments

Global Job Market in July 2020: What’s new?

This article is based on data from MeetFrank Job Market Insights. For additional and per-track reports, visit this page.

In our previous global report, we shared that most countries in Europe have recently loosened their travel restrictions. Recently, the EU also recommended opening up borders ahead of the summer holiday season. 🧳️

Looking at the situation, the world still needs some time to get back on track, but there are also some signs of recovery. 🙏

So, what about the global job market? What has summer brought for companies and job seekers? Which new members have joined the MeetFrank family and  are now offering attractive relocation packages? 🌍

You’ll find the answers in this report! Let’s discover what’s new in June and July in the global job market. 🕵

Job Market Overview: June vs July

Even though summer mode is upon us, job seekers don’t seem to have stopped sending out applications, globally speaking. 👍

number of active job seekers globally

The upward trend we mentioned in our previous report is set to continue. 📈 There has been a small increase in the number of job applications since June. 

So, what about market competitiveness in general?

global market competitiveness

Finding a job is still a challenge for job seekers. Given the coronavirus situation worldwide, it will take some time before more opportunities become available. 😷

Even though the global market is challenging, there’s always a need for good talent. 💪

In the coming sections, we will be giving more detailed information about the competitiveness  industry-by-industry. 

Salaries in Top 6 Specialties

In this section, we will compare the average gross salaries and expected salaries in June compared to May. 

Ready? 🤩

average gross salary globally

👉 When looking at the chart, we can see that the only two industries offering lower salaries in June than in May were Finance and (Tech) Project Management.

👉While the fall in the Finance sector was rather visible with an average gross salary decrease of 519EUR, the IT & Sysadmin industry increased their average offerings by 731EUR since May. Good news for IT & Sysadmin professionals! 👯

So, what about the expected salaries so far?

Compared to the average gross salaries, there were more changes to the expected salaries in June. 

average expected salary globally

👉While the average expectations of the Software Engineering professionals dropped by 51EUR, the Sales and Business Development industry saw a small average increase.

👉The expected salaries in Finance and IT & Sysadmin also decreased. 

👉 The industries with higher expectations have been Marketing & PR & Media and (Tech) Project Management . 

Overall, there was a disparity between the expected and the offered salaries by the first week of July. 🤔

In general, job seekers are demanding less than they are offered, except in the Finance and (Tech) Project Management sectors. 💰

Competition in Top 6 Specialties

In this section, we will see how the market competition has been in the last two months and how it has varied per industry in the global job market. 🌍

Competition on the job market globally

The recovery process has been taking some time globally which also affects market competition. 🕵

When looking at the chart, we can see that it’s become more challenging to find a job in all of the top 6 industries. 👀

While the difference in June’s stats compared to those of May seem more obvious for the Sales and Business Development, Marketing, PR, Media, and Tech (Project) Management industries, there has been a smaller disparity in the Software Engineering industry. 

Nowadays, job seekers in the IT & Sysadmin industry will still find it relatively easy to find a job, whereas Marketing & PR & Media experts will face some challenges. ⛈

The reasons for the increase in market competitiveness might be related to multiple factors. 💡

Firstly, some companies may find it more challenging than usual to provide job seekers with relocation packages. Most countries have started opening borders, but the effects of the coronavirus pandemic are not over yet. 😷

Job seekers are also in the same boat. Moving to another country may seem quite a bit more challenging for them in these uncertain times as well. 🗺 🧳️

Let’s hope for the better. Recovery will definitely take some time, but the good news is that it has started. We’ll wait and see what August’s stats will show. 📈

TOP 10 Companies with the Most Applications in June 2020

Wondering what the top 10 companies with the most applications recently in the global job market are? If so, you’re in the right place. 😉

Top 10 companies globally with the most applications on MeetFrank in June

Looking at the chart above, the Oscar for ‘the most favourite company for job seekers’ goes to iPhone Photography School (the name speaks for itself regarding the industry!) in Latvia. It’s followed by Blockchain.com in the United Kingdom and Cavai, in Norway. 🥁

As we can see, companies involved in new technologies make up the top 3 when it comes to the most applications on a global scale. 📱

What does the rest of the list say about job seekers’ choices?

In fourth place, we see Sadapay, a fintech company from Pakistan, followed by Visual Meta in Germany, which connects online shops and customers. 

The list continues with companies operating in Marketing, SaaS, and Tourism. No surprises that they are all tech based. 💻

Welcome to the MeetFrank family!

This week, we’ve welcomed 4 new companies from different countries. Say hi to Magebit, Elopage, Airlift Technologies, and sMover Tech! 👏

See what the latest job offers are from these companies: