Labour demand in Croatia in March showed strong signs of recovery, rebounding close to the March 2019 level, according to the Online Vacancy Index (OVI) of online job advertisements developed by the Institute of Economics, Zagreb in co-operation with the web portal MojPosao.
“A comparison of the OVI index from March of this year and the index from March 2019 shows that labour demand is at about 95% of its prepandemic level,” the report noted.
In March, the index increased by almost 24% y/y, the first year-on-year growth since the start of the coronavirus (COVID-19) pandemic, a year after Croatia announced its first lockdown. The increase was from a low base, as the OVI index has declined by 23% y/y in March 2020.
On a quarterly level, OVI recorded negative growth rates in the first quarter of 2021, falling by 8.5% compared to the first quarter of 2020 and by 18% compared to the first quarter of 2019. This was “expected, because most of the first quarter of 2020 was not impacted by the COVID-19 pandemic,” the report said.