January 11 registers highest monthly volume of new professional job vacancies since Oct 08 [press release]

Aldagh McDonogh 09.02.2011

Highlights

  • The Morgan McKinley Irish Employment Monitor reports that the number of new professional jobs in January 11 increased by 39% from December 10
  • This also reflected a 37% increase year-on-year from January 10 and was the highest number of new job vacancies recorded since October 08
  • January 11 saw a 23% increase in the number of professionals entering the jobs market month-on-month
  • However, when compared to January 10, there was a significant year-on-year decrease (48%) in the number of professionals entering the jobs market in January 11.

The latest Morgan McKinley Irish Employment Monitor shows that new job opportunities for professionals in Ireland increased by 39% from 5,227 in December 10 to 7,250 in January 11. This also represented a 37% increase from the January 10 figure of 5,283 jobs.

The number of professionals seeking new employment opportunities in January 11 increased by 23% from December 10, rising from 5,365 to 6,595. This is however a 48% decrease year-on-year from January 10 levels which saw 12,655 professionals entering the jobs market.

Karen O'Flaherty, Chief Operations Officer, Premier Group Ireland commented:

“January 11 saw a significant increase in new professional job opportunities coming onto the market compared to the previous month and compared to same time last year. It is worth noting that this rebound, although positive, was from a particularly low December 10 volume caused by disruptive weather events, the Government’s EU/IMF bail-out announcement in late November 10 and other seasonal factors.

“Economic indicators and anecdotal evidence from employers do however point towards a more positive start to the year for the professional jobs market. Job creation is firmly on the agenda in the lead up to the General Election and the feeling is that there is greater visibility with regard to potential hiring plans across H1 2011 in certain pockets of the professional jobs market than there was at the start of 2010.

“Recently, requirements for corporate restructuring – particularly within larger multinational corporations – have resulted in recruitment growth in several niche areas. For example, demand for professionals with experience in IT development and R&D is extremely high and for the first time in several years we are seeing acute skills deficits in this area.

“Certain areas of the financial services sector are also gaining momentum with regard to hiring. Demand for multilingual professionals and commercial accountants is on an upward curve and although multinational corporations continue to offer the highest volume of positions, it is encouraging to see several indigenous companies increase, or plan to increase their headcounts. This is hopefully the start of an anticipated revival in this sector.

“Despite increasing by 23% from December 10 to January 11, the number of new professional job seekers fell by 48% year-on-year. Mobility in the market has fallen as more professionals prioritise job security over new career opportunities and as talent flowing in from other European companies has slowed. As Ireland’s economy starts to recover, hopefully so too will its reputation as an attractive, international jobs market, in particular for a large pool of multilingual professionals.

Chart: New jobs v. new candidates

January 2011 Irish Employment Monitor | New jobs and new candidate volumes

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About the Morgan McKinley Irish Employment Monitor

The Morgan McKinley Irish Employment Monitor (previously known as the Premier Group Irish Employment Monitor) measures the pulse of the Irish professional jobs market by tracking the number of new job vacancies and new candidates within the Republic of Ireland each month. The first Premier Group Irish Employment Monitor was launched in May 2009 with data from April 2008 onwards.

Statistical methodology

Monthly new jobs and new candidates

Monthly new jobs and new candidate figures are based on Morgan McKinley's own monthly records of new permanent job vacancies and new candidates registering with the firm for permanent employment. Statistics for the full market are derived using Morgan McKinley’s own market share.

Job classification

Job vacancies are professional level roles within the following sectors and functions:banking & financial services, commerce & industry finance, insurance, public practice & tax, legal, HR, IT, life sciences, engineering, process & manufacturing, professional services, sales & marketing, customer service, secretarial & office support.

Geography

The data is based on new job vacancies and new candidates registered with the Morgan McKinley Group’s network of Irish offices in Cork, Dublin, Kilkenny, Limerick and Waterford.

About Morgan McKinley in Ireland

Morgan McKinley is an Irish-owned global professional recruitment consultancy connecting specialist talent with leading employers across multiple industries and disciplines.

With offices across Ireland, the UK, Europe, the Middle East and Asia-Pacific, its professional recruitment expertise spans the accounting and finance, financial services, technical and IT sectors. Morgan McKinley is a preferred supplier to many of the major employers in its specialist sectors and thousands of smaller local firms.

From October 6th 2010 Premier, Brunel and Verkom the specialist recruitment divisions of Premier Group in Ireland are called Morgan McKinley. Nothing else has changed. We are the same people, the same Irish company delivering the same recruitment service.

Morgan McKinley London Employment Monitor

Morgan McKinley currently publishes a similar Employment Monitor in London. It was launched in 2004 and reports on the new roles, candidates and salaries within the financial services jobs market in London each month.

Transformation Director
amcdonogh@morganmckinley.com