October 2010 job numbers fall but still second highest month in two years [press release]

Aldagh McDonogh 18.11.2010

October 2010 job numbers fall but still second highest month in two years.

Highlights

  • The Morgan McKinley Irish Employment Monitor reports that the number of new professional jobs in the market in October 10 fell by 6% from the September 10 figure but still remained the second highest monthly number recorded since October 08
  • There was a 44% increase in new professional jobs in the year-on-year comparison to October 09
  • October 10 saw a 16% drop in the number of professionals entering the jobs market month-on-month
  • When compared to October 09 there was a modest 1% increase in the number of new professionals entering the jobs market in October 10.


The latest Morgan McKinley Irish Employment Monitor shows that new job opportunities for professionals in Ireland increased by 44% from 4,333 in October 09 to 6,244 in October 10. The October 10 figure showed a 6% decrease from the September 10 figure of 6,674.

The number of professionals seeking new employment opportunities decreased by 16% from the September figure, falling from 13,175 to 11,115. This is however a 1% increase year-on-year from October 09 levels.


Brian Murphy, CEO of Premier Group Ireland, commented:“Although the Employment Monitor recorded a drop of 6% in the number of new professional jobs coming onto the market in October 10 when compared to September 10, we were pleased that the overall number remained reasonably strong and was the second highest monthly figure recorded since October 08. When compared to the same month in 09, the October 10 figure was a significant 44% ahead.

“We saw reasonable hiring activity in most sectors in October 10 with multinationals providing the bulk of the new opportunities being created. Recruitment levels in the IT and pharmaceutical sectors in particular held up well throughout the month as did activity in the financial services sector.

“Demand for IT professionals with software development skills in Java and .Net continued and we saw increased activity in the IT contractor market, with many companies looking to these professionals to provide them with flexible staffing solutions. While there has been reasonable demand for HR professionals at the senior end of the market for several months, in October 10 we saw a noticeable increase in demand for HR administrative staff and in-house recruiters for both permanent and temporary positions. Hopefully this bodes well for client recruitment plans in 2011.

“The number of professionals entering the market in October 10 fell by 16% from the September 10 figure, but the fall was exaggerated by the seasonally high number experienced in September. The number of new professionals seeking employment opportunities in October 10 was in line with the October 09 numbers, recording a very modest 1% increase.

“It is important to bear in mind that while the number of new vacancies in 2010 is trending positively thus far, we are still well short of the numbers experienced three years ago and the current challenges and uncertainties facing the Irish economy are testing client confidence. That said, the positive trend, particularly within multinational organisations, is encouraging and instilling cautious optimism amongst professionals.”

Chart: New jobs v. new candidates

October 2010 Irish Employment Monitor | Chart: New jobs v. new candidates

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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