Job vacancy adverts fall across the globe
Italy is seeing the biggest falls after experiencing a complete lockdown nine days ago. The nation has seen a 40.7 percent reduction in new job vacancies in the past two weeks.
Austria is the second-biggest casualty, with a 29 percent reduction in job adverts. This follows a series of drastic measures to contain the outbreak, including exit restrictions.
New Zealand and Brazil have also seen more than 20 percent drops in March so far, despite New Zealand announcing a spending package of NZ$12.1 billion (R121.8bn), or 4 percent of gross domestic product, in an attempt to fight the effects of Covid-19 on the economy.
Across all countries, IT, engineering, legal, hospitality and manufacturing are among many industries to see a notable decline across the world in March. IT job vacancies have dropped by more than a fifth (-21.7 percent), while engineering job vacancies are down 17.5 percent.
Hospitality vacancies have dropped by 9.1 percent, and the situation is likely to worsen as government restrictions around social contact start to take hold.
Trade and construction, and manufacturing jobs have also felt the strain, with a 8.2 percent and 7.8 percent drop respectively. The travel industry is also predicted to fall due to continued travel restrictions.
Although travel jobs are down only 14 percent in South Africa since March 1, travel vacancies have dropped 58 percent in the UK alone in the past two weeks, after British Airways, EasyJet and Norwegian Air announced cuts to flights in response to the outbreak.
Adzuna expects travel restrictions to and from South Africa to be ramped up in the following months.
In contrast, the number of part-time and gig jobs have increased significantly in the past two weeks, a common by-product of a recession and economic uncertainty.
Part-time and gig vacancies have increased by 22.1 percent in March across the globe as employers look for greater flexibility to respond to changes and peaks in demand.
Doug Monro, the co-founder of Adzuna, says: “The past few weeks have been incredibly difficult. We have sadly seen infections increase across the globe and drastic measures put in place to prevent the spread. This level of uncertainty, coupled with physical restrictions in movement, has caused an alarming drop in vacancies across the majority of industries, although some, like healthcare and delivery-based sectors, are growing.”