Improvement in number of new professional job numbers stalls in October 09 [press release]

Aldagh McDonogh 30.10.2009

Contracted conditions persist in Ireland’s professional jobs market for October 2009.

Highlights

  • During October 09, the number of professional job vacancies in Ireland fell by 9%, compared to September 09, ending two consecutive months of increases.
  • The year-on-year monthly comparison registered 50% fewer professional job vacancies in October 09 versus October 08.
  • The number of professionals who began their search for a new role during October 09 remained largely unchanged compared to September 09; registering a 1% drop.
  • This figure was also a decrease of 24% in the number of new candidates entering the professional jobs market in October 09 compared to October 08.


Improvement in number of new professional job numbers stalls in October 09

Two months of growth in Ireland’s recruitment market was stalled during October 09, according to the Premier Group Irish Employment Monitor,which measures the pulse of the Irish professional jobs market. The number of new professional job opportunities which opened up in the Irish market fell from 4,764 in September 09 to 4,333 in October 09, registering a drop of 9%. The year-on-year comparison illustrates the significant contraction of the jobs market with the number of professional job vacancies down by 50% to 4,333 in October 2009 from 8,652 in October 2008.

During October 09, 10,995 professionals began their search for a new role in Ireland. This figure was a slight reduction (-1%) in the number of candidates that entered the market in September 09 (11,105).  That said, the figure for new candidates registered in October 09 compared to October 08 is down 24%, illustrating both the marked reduction in vacancies on offer to candidates, and the corresponding adjusted behaviour. Taken together however, figures for the last three months in 09 (August, September, October) show a consistent number of professionals deciding to enter the jobs market, with the number rising from 7,180, to 11,105 and 10,995 in the respective months.


Brian Murphy, Managing Director of Premier Group in Ireland comments:

“It’s disappointing that the gradual improvement in the Irish professional jobs market seen during August and September stalled in October. While we had expected an increase in the September job numbers for seasonal reasons alone, the increase of 31% over August was stronger than expected. The fallback of 9% in October shows the volatility in the current market and the fragile nature of any upward momentum in the economy. There is a lack of confidence among employers and this is being translated into delayed decisions and slower job turnaround. That said, while there was a reduction in the volume of new professional roles coming onto the market in October, this number was generally consistent with levels seen during the pre-summer season and we do appear to have hit the bottom.”

“Our Irish Employment Monitor showed a very noticeable spike in the number of professionals entering the jobs market in September and this increase has levelled off in October. There is still a large disparity between the number of new professionals and the volume of jobs coming onto the market each month. This is a clear indication that the recruitment market remains highly competitive and delicate and this is likely to continue over the end-of-year holiday season, a traditionally slower time for recruitment.”

- ENDS -
Notes to editors
Further press information:

About the Premier Group Irish Employment Monitor

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 Premier Group’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 Premier Group’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 Premier Group’s network of Irish offices in Cork, Dublin, Kilkenny, Limerick and Waterford.

About Premier Group

Premier Group is Ireland's leading recruitment consultancy with offices in Cork, Dublin, Kilkenny, Limerick, and Waterford. Internationally, the Group operates from 24 offices across eight countries. Subsidiary brands within Premier Group in Ireland include Accreate Executive Search & Interim, Brunel, la crème, Premier, and Verkom. Morgan McKinley and iQ selection also form part of the Premier Group outside of Ireland.

Morgan McKinley London Employment Monitor

Premier Group currently publishes a similar monitor in London under its subsidiary brand name, Morgan McKinley. The highly-regarded Morgan McKinley London Employment Monitor 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