Labor market developments, the main findings

 In Employer blog

Labor market developments, the main findings

COVID-19 has a huge impact on the labor market. Never before have there been more radical developments on the labor market in a single year than in 2020. Yacht wrote about this development and collected the main findings.

Change jobs

The impact of COVID-19 differs per sector. The call for a job-job transition is therefore greater than ever. Sectors such as catering and aviation are seeing a dramatic decline in market demand, while food retail and e-commerce are extremely busy. Sometimes such a switch to another position is much less strange than it might seem at first glance. A lot of knowledge and skills correspond in a wide range of professions, also outside the own sector. Many employees and employers are looking at the labor market with this new perspective.

Appreciation and interest in crucial professions is increasing

Employees who perform a crucial profession are essential to keep society going. The term “crucial profession” is therefore often used in the media. Partly due to all the media attention, the appreciation and interest in these professions has increased. Training courses such as the Pabo and the nursing training received 34% and 17% more (pre) registrations than in 2019. This is a good sign of the staff shortage in these sectors. Job security is an extra motivating incentive to retrain or retrain in this direction. More attention is also being paid to working conditions and terms and conditions than before.

Increasing polarization

Since the corona pandemic, there has been more polarization in the labor market. The impact is not evenly distributed. Sectors with a majority of higher educated or specialized personnel suffer relatively less from the corona pandemic than professions with a lower educational requirement. Before the outbreak of the corona virus, professions with a lower educational requirement had a wider labor market. Now they are seeing a significant decline in market demand.

NOW scheme

Entrepreneurs are being hit hard by the corona pandemic. Turnover dropped (completely) from one day to the next. Governments worldwide are reacting differently to this situation. The Netherlands has chosen to support companies by continuing to pay wages, the NOW scheme. The effect in the short term is: a much smaller job loss. What is the effect in the longer term? That is still unclear.

Search for the right balance between work and private life

Opinions about working from home differ. For many it is a quest to find the right balance. It has its challenges and opportunities. The challenges are mainly in realizing a good workspace in-house. The facilities and the care and contact with the children play a role in this. Despite these challenges, employees and employers have also become more aware of the possibilities of (partly) working from home. It is important that the right balance between work and private life is found. Working longer (for too long) in combination with missing social contacts in the workplace can eventually lead to burnout-related complaints.

Young people are hit hardest

Young people are being hit hardest in the labor market. They often work in the hospitality and culture sectors that are currently being hit hard. History shows that they suffer severe blows in almost every crisis. Partly thanks to their high degree of flexibility, we also see that when times are better the unemployment rate among young people is falling again rapidly.

How the above labor market developments will continue in 2021 is the big question. The answers all depend on the extent to which COVID-19 spreads and the way in which the authorities deal with it. With the advent of the vaccine and the experiences gained, our vision for the future certainly offers prospects for better times.

For young people it is important that they understand what they can do. Going to work in another sector requires them to gain more insight into their soft skills. At PlaytoWork we measure these skills through serious gaming. Would you like to know more and see what we can do for you? Then check it out this page.

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