May Employment Monitor | Availability of professional job opportunities falls by 1% compared to April 2016

Ronan Hill 07.06.2016

Number of professional job seekers rises by 9% compared to the previous month

Highlights:

  • Availability of professional job opportunities fell by 1% in May compared to the previous month. There was a decrease of 9% in professional job opportunities compared to May 2015.
  • The number of professionals seeking new roles increased by 9% in May, compared to April 2016.  It was up 2% when compared to May 2015.
  • In Finance, risk and insurance professionals are in high demand. Hiring within the Funds sector remains static due to uncertain international environment and possible Brexit.
  • Fintech roles grow within Finance and Banking as manual processes become increasingly automated.
  • Recruitment within IT overall remains buoyant across both permanent and contract roles. Big data and security roles have seen intense hiring activity this quarter.
  • Multilingual professionals continue to be sought after. Employers are increasingly using technology such as Skype and Sonru to speed up recruitment campaigns.
  • There is strong demand regionally for both property and employment lawyers.
  • Overall the hiring market in Q2 can be described as cautious, with companies unwilling to make recruitment decisions at the same pace as last year. This is due to a combination of both domestic and international factors, including Brexit.

 

Wednesday 8 June 2016: The availability of professional job opportunities in May 2016 (12,056) fell slightly, by 1%, when compared to the previous month (12,203) according to the Morgan McKinley Irish Employment Monitor.  

The number of professionals seeking new roles rose by 9% this month (8,300) when compared to April 2016 (7,588).

There was a decrease of 9% overall in professional job opportunities compared to May 2015.

Ronan Hill, Operations Director, Morgan McKinley Ireland said:

“Global uncertainty and concerns over the possible impact of Brexit are impacting the pace of recruitment, creating a level of inertia in the hiring market when compared to the same time last year.

In particular, the prospect of Britain leaving the EU, however slight at this juncture, has undoubtedly had a dampening effect on hiring intentions and patterns over the last 4- 6 weeks.

Conversely, we anticipate Ireland could be in for a significant jobs boost in the event of a “remain” vote, with companies experiencing a renewed sense of confidence in resource planning.

In May, big data and security roles were the primary drivers of the IT sector. Talent shortages are still a concern within the industry. We have seen permanent roles migrating to contract status due to time pressure and candidate shortages.

Salary inflation continues to be a feature of sectors where there is a more limited pool of talent such as IT and multilingual. The increase, year-on-year, in the number of work permits being granted to employers to enable them to bring non-EU citizens to work in Ireland is an indicator of how necessary a pipeline of international talent has become.

In Finance, the growth of Fintech continues to create new demand for professionals with both finance and technology backgrounds. The funds sector however remains static.

In summary, decisions on new hires across a variety of sectors have shown signs of a slowdown in Q2 primarily due to international uncertainty."

**End**

Professional Jobs

Professional Jobs May 2015 - May 2016

Professionals Seeking New Roles

Professionals Seeking New Roles

 

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.

Ronan Hill's picture
Managing Director
rhill@morganmckinley.ie