{"id":103862,"date":"2022-12-16T12:40:35","date_gmt":"2022-12-16T10:40:35","guid":{"rendered":"https:\/\/www.bondora.com\/blog\/?p=103862"},"modified":"2022-12-16T12:40:35","modified_gmt":"2022-12-16T10:40:35","slug":"what-is-the-state-of-the-european-job-market","status":"publish","type":"post","link":"https:\/\/goandgrow.eu\/en\/blog\/what-is-the-state-of-the-european-job-market\/","title":{"rendered":"What is the State of the European Job Market?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The job market has been anything but ordinary over the past two years. In light of COVID-19 and the war in Ukraine, here&#8217;s what you can expect regarding the European economy and job market for the near future. We also cover how you can navigate the tight job market. Take a look:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"709\" height=\"531\" src=\"https:\/\/investor.wptest.goandgrow.eu\/wp-content\/uploads\/sites\/4\/2022\/12\/image-1186.png\" alt=\"A tight job market settles in.\" class=\"wp-image-103863\" srcset=\"https:\/\/goandgrow.eu\/wp-content\/uploads\/sites\/4\/2022\/12\/image-1186.png 709w, https:\/\/goandgrow.eu\/wp-content\/uploads\/sites\/4\/2022\/12\/image-1186-300x225.png 300w\" sizes=\"auto, (max-width: 709px) 100vw, 709px\" \/><figcaption><em>A tight job market settles in.<\/em><\/figcaption><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-major-points-of-interest-for-those-who-are-job-hunting\">Major points of interest for those who are job-hunting:<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.pbs.org\/newshour\/world\/eu-forecasts-recession-this-year-amid-persistent-inflation\" target=\"_blank\" rel=\"noreferrer noopener\">The job market will continue to cool<\/a> into the winter, continuing the trend from the summer of 2022.<\/li><li>The war in Ukraine has limited countries&#8217; access to fuel, making it <a href=\"https:\/\/www.pbs.org\/newshour\/world\/eu-forecasts-recession-this-year-amid-persistent-inflation\" target=\"_blank\" rel=\"noreferrer noopener\">more expensive to scale businesses<\/a>.<\/li><li><a href=\"https:\/\/www.euronews.com\/next\/2022\/11\/10\/the-job-markets-cooling-what-does-that-mean-for-tech-workers\" target=\"_blank\" rel=\"noreferrer noopener\">Employees will likely find it challenging<\/a> to keep up with layoffs occurring. A good thing to do to prepare for a changing job market is to develop a particular skill set that you can market to employers or clients. It can give you a leg up in case of layoffs or flexibility if you&#8217;re looking for freelance work.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How do you combat this tight job market?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">By having marketable skills, you can stand out and be more employable for companies, potentially keeping you safe from layoffs. Here are the top 5 skills to have in the current job market:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1.&nbsp;&nbsp;&nbsp; Coding<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This one is a no-brainer. Learning to code will only benefit you in an increasingly digitized and globalized world. (Psst, we&#8217;re always looking for <a href=\"https:\/\/www.bondora.group\/careers\/joboffers\/\" target=\"_blank\" rel=\"noopener\">talented developers<\/a>. See what some of <a href=\"https:\/\/www.goandgrow.eu\/blog\/discover-the-life-of-a-bondora-developer-superhero\/\">our developers<\/a> love about working at Bondora.)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>2.&nbsp;&nbsp;&nbsp; Copywriting &amp; Digital Marketing<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The E-commerce industry is worth more than <a href=\"https:\/\/www.globenewswire.com\/en\/news-release\/2022\/10\/13\/2533897\/28124\/en\/Europe-B2C-e-Commerce-Market-Report-2022-100-KPIs-on-Verticals-Market-Share-by-Key-Players-Sales-Channel-Analysis-Payment-Instrument-Consumer-Demographics-2017-2026.html#:~:text=The%20region&#039;s%20B2C%20Ecommerce%20Gross,growth%20across%20different%20product%20categories.\" target=\"_blank\" rel=\"noopener\">\u20ac842 billion<\/a>. If coding isn&#8217;t your thing, you can cash in on the significant need for digital marketing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>3.&nbsp;&nbsp;&nbsp; Product Management<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Learning how to develop and launch a product is a valuable skill for any company that leans on tangible and digital items (as opposed to services).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>4.&nbsp;&nbsp;&nbsp; Interior Design<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Interestingly, according to <a href=\"https:\/\/business.linkedin.com\/talent-solutions\/recruiting-tips\/thinkinsights-emea\/most-in-demand-jobs-and-industries-in-europe-middle-east-and-latin-america\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn statistics<\/a>, kitchen and bathroom design have experienced a high-speed growth rate in the UK.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>5.&nbsp;&nbsp;&nbsp; Sales<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">France, Germany, Belgium, the Netherlands, and Luxembourg have experienced a great need for sales associates in 2022, <a href=\"https:\/\/business.linkedin.com\/talent-solutions\/recruiting-tips\/thinkinsights-emea\/most-in-demand-jobs-and-industries-in-europe-middle-east-and-latin-america\" target=\"_blank\" rel=\"noreferrer noopener\">according to LinkedIn data<\/a>. Italy and Spain&#8217;s retail markets have also expanded.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How are interest rates affecting the job market?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Interest rates have been rising globally this year to curb inflation. Peak inflation in Europe is projected to <a href=\"https:\/\/www.pbs.org\/newshour\/world\/eu-forecasts-recession-this-year-amid-persistent-inflation\" target=\"_blank\" rel=\"noreferrer noopener\">continue throughout the winter and into early 2023<\/a>. This increased interest means it costs more for businesses to expand, which means fewer hired employees. On a large scale, this adjustment results in a less-robust job market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Future career prospects<\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"698\" height=\"465\" src=\"https:\/\/investor.wptest.goandgrow.eu\/wp-content\/uploads\/sites\/4\/2022\/12\/image-1187.png\" alt=\"Healthcare remains a relatively recession-resistant industry\" class=\"wp-image-103869\" srcset=\"https:\/\/goandgrow.eu\/wp-content\/uploads\/sites\/4\/2022\/12\/image-1187.png 698w, https:\/\/goandgrow.eu\/wp-content\/uploads\/sites\/4\/2022\/12\/image-1187-300x200.png 300w\" sizes=\"auto, (max-width: 698px) 100vw, 698px\" \/><figcaption><em>Healthcare remains a relatively recession-resistant industry<\/em>.<\/figcaption><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Relative to the incoming recession, certain sectors of the economy will likely continue to provide opportunities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are 5 reliably recession-resistant industries in Europe, according to <a href=\"https:\/\/www.cnbc.com\/2022\/07\/05\/top-4-recession-proof-industries-to-work-in-according-to-economists.html\" target=\"_blank\" rel=\"noreferrer noopener\">CNBC<\/a> and <a href=\"https:\/\/www.circleloop.com\/recession-proof-index\" target=\"_blank\" rel=\"noreferrer noopener\">Circleloop<\/a>:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Healthcare<\/li><li>Education<\/li><li>Government<\/li><li>Information Technology<\/li><li>Information and Communication<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/totalent.eu\/europes-top-job-boards-for-2022-indeed-and-linkedin-dominate-western-but-not-eastern-europe\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn and Indeed<\/a> remain top-choice job boards for employment-seekers in Western Europe.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While the job market right now is not as favorable as it was in spring 2022, there are specific actions you can take to make the recession less stressful. Learning a new, highly-marketable skill or refining an existing skill can lessen the blow of any potential damage to your lifestyle as a consumer and employee.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Job-hunting? You can view our current openings <a href=\"https:\/\/www.bondora.group\/careers\/joboffers\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The job market has been anything but ordinary over the past two years. In light of COVID-19 and the war in Ukraine, here&#8217;s what you can expect regarding the European economy and job market for the near future. We also cover how you can navigate the tight job market. Take a look: Major points of [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":103863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[119],"tags":[103,104],"class_list":["post-103862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-well-being","tag-english","tag-finance-tips"],"acf":[],"featured_image":{"url":"https:\/\/goandgrow.eu\/wp-content\/uploads\/sites\/4\/2022\/12\/image-1186.png","width":709,"height":531},"categories_names":["Financial Well-being"],"category_name":"Financial Well-being","_links":{"self":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/103862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/comments?post=103862"}],"version-history":[{"count":0,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/103862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/media\/103863"}],"wp:attachment":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/media?parent=103862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/categories?post=103862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/tags?post=103862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}