Press Release: Irish Employment Monitor - February 2014

Aldagh McDonogh 10.03.2014

Highlights

  • The Morgan McKinley Irish Employment Monitor recorded a month-on-month decrease of 10% in job availability in February 2014.
  • There was a 4% increase in the number of professional job opportunities when compared to the same month last year.
  • February 2014 saw a 12% decrease in the number of professionals entering the employment market compared with January 2014.
  • Compared to the same time last year this is a 24% decrease in the number of new professional job seekers on the market.

 
Tuesday March 11th 2014: There are promising indicators of hiring activity in the Irish economy as the February 2014 Morgan McKinley Irish Employment Monitor registered a 4% increase in the number of jobs available compared to the same month last year (9,570 compared to 9,177). However, the results of the Monitor also showed a 10% decrease in the number of new professional job opportunities from January 2014 (10,666) to February 2014 (9,570).
 
In terms of professional job seekers entering the market, there was a month-on-month decrease of 12% from 8,430 in January 2014 to 7,450 in February 2014. There was also a fall of 24% recorded in the number of professionals seeking new career opportunities compared to the same month last year (9,800).
 
 
Karen O’Flaherty, Chief Operations Officer, Morgan McKinley commented:
 
“Although still early in the year, promising indicators of hiring activity continue across a number of sectors and within a range of businesses including multinationals, SMEs and startups. As organisations continue to release annual recruitment budgets in-line with building out new teams or restructuring their internal divisions, many professionals are re-evaluating their career paths and longer term opportunities.
 
“Though some organisations are constrained within the protocol of a long interview process, particularly the multinationals, small to medium sized businesses can benefit by expediting the decision making in order to secure top talent.
 
“There is an ongoing demand for many skill sets including:

  • Insurance and claims professionals as a result of the recent bad weather;
  • Audit expertise in banking and insurance (both commercial and consultancy experience) driven by central bank regulations;
  • Fund professionals (fund accountants and transfer agency) as this dynamic sector continues to develop in Ireland.

“Skills shortages are evident in the IT sector, specifically within DevOps, IOS, Android and IT security and mobile. Clients are more open to looking at professionals who may have visa restrictions than in the past and as more funding and projects are signed off across the technology landscape, senior project managers and experienced contractors are sought after.
 
“Professionals with environmental health and safety knowledge are specifically in demand within the science and R&D sector. This increase is due to a number of factors including employers investing in improvements within the workplace and overall competitiveness coupled with increased regulation and compliance as employee numbers grow within their organisations.
 
“In many areas where skills shortages are evident, more professionals are finding themselves with multiple offers for consideration. We have also seen a rise in professionals open to relocate as they prioritise factors when considering alternative or new opportunities, in particular a more lucrative base salary.
 
“Looking further ahead, we predict continued optimism in the professional hiring market with evidence of skills shortages becoming more apparent in more areas and organisations as the year progresses.”

 
Ends
 
View previous versions of the Morgan McKinley Irish Employment Monitor.
 
Chart 1: Professional jobs

Professional Jobs

Chart 2: Professional job seekers

Professionals Seeking Roles

Notes to editors

Further press information:
Mike Miley, MKC Communications | T: +353 1 703 8600 | E:  mike@mkc.ie
 
Spokespeople available on request for further industry insights and commentary:
Susan Kelly - Banking
Bryan Hyland - Science, Supply Chain, Engineering
Ann O’Mahony - Office Support
 
About the Morgan McKinley Irish Employment Monitor
 
The Morgan McKinley 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
 
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 2013, Morgan McKinley was recognised in the Irish Independent’s listing of Best SME Workplaces in Ireland. We are also proud to be ranked in Deloitte’s Top 20 Best Managed Companies in Ireland for 2013.
 
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. Visit www.morganmckinley.co.uk for details.
 
Mon, 10/03/2014 - 17:28

Transformation Director
amcdonogh@morganmckinley.com