KEY FINDINGS
ECONOMIC SIZING AND GROWTH 2021
ECONOMIC AND HIRING REVIEW ⇥ As the devastating effects of the global pandemic begin to subside, many economies are returning to a semblance of normalcy with renewed business investment and hiring. Across the 10 markets covered in this report, economic growth rate projections for the year range from higher-end growth in the 5.8% to 6.4% range for France, Romania and Spain, to those on the lower-end in the 3.5% to 3.6% range for Netherlands, Poland and Germany. ⇥ Unemployment rates in many European countries never reached the levels seen in other markets during the height of the pandemic, such as the United States. As of yearend 2020, several markets were in a very low unemployment rate range, notably Czech Republic, Poland, Netherlands and Germany. Conversely, the unemployment rate remained elevated in Spain. ⇥ Despite a degree of labour market stability across many European countries, the uncertainty of 2020 meant new hiring slowed or ceased altogether. Consequently, with pent-up demand to backfill open positions or to pursue new talent to support growth strategies, there was a significant pick-up in hiring activity during Q1 2021. Compared to Q4 2020, total hiring activity as measured by employer job postings for technology positions increased 9%. Compared to Q3, the increase was 40% - again, reflecting the transition from hiring freeze to hiring resurgence. ⇥ In total, employers across the 10 markets covered in this report posted nearly 900 000 job advertisements during Q1 2021 in their efforts to hire for a range of technology professions. Key categories for hiring include: ⇥ Software Developers, Programmers and Web Developers ⇥ Systems Analysts and Cybersecurity ⇥ IT Support Specialists and Technicians ⇥ Network and Systems Administrators and Technicians ⇥ Job postings invariably align with the job roles employers are seeking to fill. Digging below the job role, however, reveals a number of common skill threads that span just about every technology job role these days. Employers frequently expect some level of cybersecurity, data, cloud, project management, and related technical skills. And, because of the intersection of technology and business (aka the business of technology), technologists must possess a solid foundation of soft skills in areas such as communications, emotional intelligence, collaboration, problem resolution and more. ⇥ Job advertisements for technology positions represented approximately 13% of total hiring advertisements during Q1 2021, up from 11% during 2020. This stems from the ongoing trend of digital transformation and the growing presence of technology across industry sectors and businesses of all sizes. For Q1 2021, Poland experienced the highest proportion of job advertisements for technology roles at 36%. Germany, Portugal and Romania also had above average concentrations of tech hiring job advertisements. Top hiring industry sectors for technology professionals during Q1 2021: ⇥ Information and Communication ⇥ Manufacturing ⇥ Administrative and Support Services ⇥ Professional, Scientific and Technical Services ⇥ Financial and Insurance
2021 Economic Growth Proj.
Economic Base Proj. (billions)
Belgium
€475 €226
4.0% 4.2% 5.8% 3.6% 4.2% 3.5% 3.5% 3.9% 6.0%
Czech Republic
France
€2 409 €3 542 €1 727
Germany
Italy
Netherlands
€830 €527 €211 €237
Poland
Portugal Romania
Spain
€1 198 6.4% Source: IMF, constant currency
LABOUR FORCE AND UNEMPLOYMENT RATE Labour Force (millions) 2020 Unemploy- ment Rate
Belgium
4.7 5.1
5.6% 2.7% 8.2% 4.2% 9.1% 3.8% 3.2% 6.8% 5.0%
Czech Republic
France
26.7 43.3 22.3
Germany
Italy
Netherlands
8.7
Poland
16.1
Portugal Romania
4.6 8.3
Spain
19.1 15.5% Source: Eurostat, IMF
EMPLOYER JOB POSTINGS FOR TECH HIRING
900 000
600 000
300 000
000 000
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Source: Burning Glass Technologies Labour Insights
Copyright ©2021 CompTIA, Inc. | CompTIA.org | Q2 2021 release | Page 3
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