Staff numbers down in over half of business sectors in past year – Scorify

Eight large business sectors saw a fall in staff numbers at the beginning of March this year, compared to March 2023. Meanwhile, the number of employees in enterprises and organisations was still 0.7% higher at the beginning of March this year, reports Scorify, Vilnius-based data analysis company.

A total of 75 companies were declared bankrupt, the same as last year’s average. The number of new companies founded in February was higher than last year, according to Scorify’s overview of companies.

The largest annual declines in staff were recorded in the real estate sector, down by 4%, and in construction and agriculture, down by 3% each. The biggest annual increases in March were in the healthcare sector, up by 5%, and in the transport and logistics sector, where companies hired 4% more.

The construction sector accounts for the largest share of companies facing increasing risks. In March, 37%, or 4,400 companies in this sector, saw their credit ratings downgraded compared to last year. However, the increase in the risk of these companies was marginal as the overall rating of the sector improved.