July Employment Monitor | Compared to the same month last year, the number of professional job opportunities has increased by 33%

Aldagh McDonogh 13.08.2015

16% more professional jobs came to market in July compared to June

July Highlights

  • 33% more professional jobs available this month compared to July last year.
  • A month on month increase of 16% in professional jobs coming to market.
  • 1% decrease in the number of professionals entering the jobs market, compared to July 2014.
  • July was an exceptionally busy month for IT professionals, with 25% more IT roles on offer in July than in June.
  • Steady growth in the number of new roles in the banking and financial services sectors. 

 

Further Insights 

  • IT contracting roles are increasing in popularity as the number of IT projects in development rises.
  • Within the IT sector, demand was highest in July for .Net and Mobile development professionals.
  • Within banking and financial services, it was a very busy month for new credit roles and positions within retail, corporate and commercial banking. 
  • There was a steady increase for mortgage underwriting and junior mortgage administrator roles.  
  • Within construction, building services continues to perform impressively, with 30% growth in new roles on offer during July, compared to June. Other key professionals in demand include project engineers, design engineers and project managers. 

 

Thursday 13 August 2015: The July 2015 Morgan McKinley Irish Employment Monitor registered a 33% increase in the number of professional job opportunities (12,887) when compared with the same month last year (9,699). While month on month, there was a 16% increase in the number of professional jobs coming to market. There was a 1% decrease in the number of professionals seeking employment this month compared to July 2014. 

Morgan McKinley Ireland, Chief Operations Officer, Karen O’Flaherty, commented:
 
“The professional jobs market in July performed ahead of expectations, despite the seasonal holiday slow down recorded in previous years.  This is in line with strong job creation in 2015 to date and bodes well for the next two quarters of the year.
 
Professional job opportunities in the banking and financial services areas continue to increase with regulatory, financial and statutory reporting as well as many internal audit skills in high demand.
 

An increased focus on capital requirements, driven by regulatory changes including the long awaited implementation of Solvency II, the Capital Requirements Directive (CRD IV/CRR) and the Bank Recovery and Resolution Directive (BRRD) is driving significant recruitment across Enterprise Risk.

Risk analysts, particularly those with experience of Internal Liquidity Adequacy Assessment Processes (ILAAP) and Internal Capital Adequacy Assessment Process (ICAAP)are in significant demand across Financial Services. The uplift in statutory reporting is being created due to the upcoming Irish GAAP to FRS 102 conversion.
 
Lending within the commercial, retail and corporate banking continues to recover, there is a growing need for new lending professionals at all levels both on a temporary and permanent basis, and continued demand for professionals with portfolio management experience of distressed assets. 
 
Other skills in high demand include IT professionals with key technologies such as Java, .net and mobile as on-going investment in Fintech and IT related projects fuels the demand for experienced professionals in this area. More professionals with niche skills including Angular JS & Bootstrap are increasingly choosing contracting as their employment choice given the reduced job risk and the perceived higher earning potential.
 
Of note, is the steady increase in returning Irish
professionals, primarily from Australia, Canada and UAE. The decision to return is made more attractive by the increase in job opportunities outside of Dublin and Cork”.

Chart 1 – Professional Jobs

chart 1 3

Chart 2 - Professionals seeking roles

chart 2 2

Issued by

Rachel Graham, MKC Communications, 01 7038600

Spokespeople available on request for further industry insights and commentary.

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. See www.morganmckinley.ie for details. 
 
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 Morgan McKinley’s network of Irish offices in Cork, Dublin, Kilkenny, Limerick and Waterford.
 
About Morgan McKinley in Ireland
Irish owned Morgan McKinley is a global professional recruitment consultancy connecting specialist talent with leading employers across multiple industries and disciplines.
 
With offices across Ireland, the UK, EMEA, Asia and Australia, its professional recruitment expertise spans the accounting & 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.
 
 In 2015, Morgan McKinley was recognised as one of the top 5 Best Workplaces in Ireland in the Great Place to Work Awards. The company was also a Ruban d’Honneur recipient in the 2014/5 European Business Awards.

Transformation Director
amcdonogh@morganmckinley.com

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