June Employment Monitor | Availability of professional job opportunities falls by 3.5% compared to May 2016

Aldagh McDonogh 12.07.2016

Number of professionals seeking jobs fell by 4% compared to the previous month.

Highlights:

  • Professional job opportunities fell by 3.5% (11,633) in June 2016 when compared to the previous month (12,056) but were up 3% compared to June 2015.
  • There were 4% less professionals seeking job opportunities (7,788) in June 2016 compared to the previous month (8,129).
  • In Financial Services, the Monitor recorded a strong increase in demand for professionals within the Funds and Asset Management sector, particularly with risk and compliance expertise. This follows a period of hiring caution earlier in the year. There was a marked increase in enquiries from UK job seekers within this sector after the results of the UK’s referendum on membership of the EU were announced.
  • Recently qualified accountants are increasingly likely to be targets for new positions in both financial accountant and internal audit positions.
  • As the cost of operating in Dublin continues to rise, top 10 practice firms continue to move and build teams outside the capital – Cork, Limerick and Galway.
  • The IT sector remained buoyant in June and the continued under supply of quality talent remains an issue for employers. The most sought after professionals are those with big data, IT security and Java developer experience.
  • Supply chain and procurement professionals across Dublin and the regions were the most popular hiring targets.
  • German, Dutch and Nordic languages remain the most sought after in the multilingual sector. These roles were mostly mid-level sales and business to business support for international clients of Irish based firms.

 

Wednesday 13 July 2016: Professional job opportunities fell by 3.5% (11,633) in June 2016 when compared to the previous month (12,056) but were up 3% compared to June 2015 according to the Morgan McKinley June Employment Monitor.

There were 4% less professionals seeking job opportunities (7,788) in June 2016 compared to the previous month (8,129). 

Karen O'Flaherty, Chief Operations Officer, Morgan McKinley Ireland commented:

Hiring activity in June was stable but cautious, reflecting both seasonal factors and the uncertainty generated in the run up to and immediately after the UK’s referendum on EU membership.

The complexities arising from the UK’s decision to leave the EU are not yet fully understood and we anticipate this may impact company forecasting and resource planning activity in the short to medium term. 


Within funds, the financial services and banking sector generally there is recognition that there will be changes but that it is still too early to determine when and where they will be. The expectation is however that there will be diversification.


There is also positive sentiment. Within financial services Brexit may increase the flow of candidates and jobs from London back to the Irish market. The Funds sector witnessed a spike in activity in June and an increase in enquiries from UK job seekers. Regulatory and compliance roles are in particular focus.


Within professional services, we anticipate an increase in hiring demands as international businesses assess the Irish market as a potential landing point within the EU.
Certain sectors such as IT, Procurement and Multilingual remained particularly buoyant in June. Within IT there was no evidence of hiring uncertainty, though we anticipate there may be a rise in project and contract opportunities over permanent roles as the year progresses.

In summary, the decision by the UK to leave the EU does present opportunities, however the full impact of Brexit on growth plans and therefore hiring activity is not yet clear.

**End**

 

Professional Jobs

june professional jobs

Professionals Seeking New Roles

june professionals seeking jobs

Issued by

Rachel Graham, MKC Communications, 01 703 8600 / 086 8488092

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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