Job Market Report

The Nordic job market experienced significant activity in January, with a substantial numbers of new job advertisements and a high volume of applications.

Here is an overview of key statistics for January based on data from Talentech’s own recruitment systems.

Compared to the previous month of December the number of jobs advertised went up with 500 jobs more advertised in January 2024. The job market did see a significant decline in the number of applications processed. From 503.000 in December 2023 to roughly 389.000 in January 2024.

When compared to the same period of last year, January 2023, there are 5.000 less jobs advertised in January 2024 and 275.000 less applicants across the Nordics.

The average number of applications for each advertised job went down from 25 in January 2023 to 19 in January 2024. This is a clear indication that there are less candidates actively seeking new opportunities out there at the moment, which in turn means that companies have to find ways of attracting new talent that isn’t necessarily actively looking at the moment.

The numbers indicate a good time for companies to consider alternative ways of recruitment. In a market where candidates are hard to come by, tactics such as network recruitment through existing employees or advertising through social media can be a significant factor in landing the right candidate.

Read our take on Social Media Recruitment here: https://blog.talentech.com/en/what-is-social-recruitment-and-why-is-it-important

And here is a perspective on using referrals to hire from your employees network: https://blog.talentech.com/en/why-should-you-take-the-plunge-on-employee-referrals