{"id":70562,"date":"2020-12-01T13:49:45","date_gmt":"2020-12-01T13:49:45","guid":{"rendered":"https:\/\/www.bullhorn.com\/eu\/?p=70562"},"modified":"2021-02-08T15:24:33","modified_gmt":"2021-02-08T15:24:33","slug":"engagex-europe-economic-recovery-and-growth","status":"publish","type":"post","link":"https:\/\/www.bullhorn.com\/eu\/blog\/engagex-europe-economic-recovery-and-growth\/","title":{"rendered":"Key Takeaways from EngageX Europe: Economic Recovery and Growth"},"content":{"rendered":"

At EngageX Europe 2020, the online experience for global recruitment professionals, more than a thousand recruitment professionals came together in one (virtual) space to network, learn, and discuss the industry\u2019s challenges and opportunities. If you want to relive your favorite moments or catch up on any content you missed, you can watch the content on-demand in <\/span><\/i>Swapcard<\/span><\/i><\/a>.\u00a0\u00a0<\/span><\/i><\/p>\n

Didn\u2019t attend EngageX Europe? You can still <\/b>view the content here<\/b><\/a>.<\/b><\/p>\n

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2021 planning is in full swing. To accurately assess the risks and opportunities for yourselves and your business in the upcoming year, you need a high-level explanation of the market. Enter Roger.<\/span><\/p>\n

Roger Martin-Fagg, a leading behavioural economist, uses macroeconomic data to educate us all on why the next two years will be \u2018much better than the media tells us.\u2019 We heard how COVID-19 had increased structural unemployment, which means positive moves for productivity gains and consumer confidence.\u00a0<\/span><\/p>\n

See below for key takeaways from Roger\u2019s EngageX Europe session, including how COVID-19 has already impacted the recruiting industry and what the future holds.<\/span><\/p>\n

Economic Recovery and Growth<\/b><\/h3>\n

Roger first discussed the ways that economic growth is measured: The Purchasing Managers Index (PMI) and Retail Sales.<\/span><\/p>\n\"engagex\n

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Next, Roger explained what the current recovery form looks like. Economists are currently seeing a classic <\/span>V-Shape recovery<\/span><\/i>, meaning the economy is showing more signs of improvement post-lockdown than before. Overall, there is a general increase in PMI and Retail Sales and money is flowing through the economy.\u00a0<\/span><\/p>\n

In summary, the major headline is that in 2020, the economy has shrunk by 11%, but in 2021 it will grow 10% over this year.\u00a0<\/span><\/p>\n

Significant Impacts of COVID-19 on the Recruiting Industry and Beyond<\/b><\/h3>\n

It\u2019s clear that the COVID-19 pandemic has shaped every industry, including recruiting.\u00a0 Roger shared critical impacts of the pandemic that will have lasting effects on the world\u2019s economy, including:<\/span><\/p>\n