March 11 sees highest volume of new professional job opportunities since October 08

Aldagh McDonogh 12.04.2011

Highlights

  • In March 11, the Morgan McKinley Irish Employment Monitor registered a 20% month-on-month increase in the number of new professional jobs in the market
  • The number of new professional job vacancies was up 75% year-on-year from March 10 and was the highest volume recorded since October 08
  • March 11 also saw a 22% increase in the number of professionals entering the Irish jobs market 
  • Compared to the same time last year, there was however a decrease (34%) in the number of new professional job seekers in March 11


The latest Morgan McKinley Irish Employment Monitor reported a 20% increase in new job opportunities for professionals in Ireland, increasing from 7,100 in February 11 to 8,550 in March 11. There was also a significant uplift (75%) from the March 10 figure of 4,896.

March 11 saw 22% more professionals beginning their job searches, with the month-on-month figure rising from 6,380 to 7,755. Compared to March 10, when 11,790 professionals entered the jobs market, this was a 34% decrease.

Karen O'Flaherty, Chief Operations Officer, Premier Group Ireland commented: “March 11 saw a 75% year-on-year increase in new professional job opportunities. This significant rise, although from a subdued March 10, was the highest level registered by the Irish Employment Monitor since October 08.

"Despite the backdrop of the IMF’s reduced growth forecast for Ireland, anecdotal evidence from employers, in both city and regional centres, suggests that the mood in the professional sector heading into Q2 is more optimistic than the same time last year. The market for technical roles is particularly buoyant, for example, demand for professionals from pharmaceutical and medical device multinational corporations considerably outstrips supply in the Cork region. Further growth is forecast for technical positions in Q2, with export-led manufacturing companies expected to provide the highest number of job opportunities.

"IT professionals are still highly sought after across the board, as are those with multilingual skills to support growth in multinationals. March 11 saw an increased number of roles for internal recruiters and senior HR professionals, an indicator that a number of businesses are increasing their focus on attracting and retaining key talent. The financial services sector had a relatively modest month, as several companies were hesitant to progress hiring plans until the results of the banks’ stress tests were released. Furthermore, pockets of the financial services sector, for example retail banking, are still dealing with serious economic challenges.

"There was a 22% month-on-month increase in the number of new job professional seekers in March 11, suggesting that many professionals are feeling more confident about exploring career moves. In some fields, salary increases are a motivator, particularly for those who have had their pay frozen for the past two to three years. As the jobs market continues to improve, professionals will be in a position to make more strategic and discerning career decisions.

"Overall, the end of the fiscal year is in some ways a turning point for the business community. Following the formalisation of the new Government and the release of the stress tests, there is a feeling that decisions have been taken and it is time to move forward. This more stable environment should lead to restructuring and development of new business areas in the next quarter, leading to increased movement in the professional jobs market.”

New jobs and candidates in March 2011

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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