Press Release: Irish Employment Monitor - January 2014

Aldagh McDonogh 11.02.2014

Highlights

  • The Morgan McKinley Irish Employment Monitor recorded a month-on-month increase of 57% in job availability in January 2014.
  • This was an increase of 10% in the number of new professional job vacancies available in January 2014 compared to the same month last year.
  • The number of professionals looking for new job opportunities increased 49% from December 2013 to January 2014 (5,658 to 8,430).
  • Compared to the same time last year, there was a 13% decrease in the number of professionals seeking new jobs (9,735 in January 2013 compared to 8,430 in January 2014).

 

The healthy state of the professional jobs market has been reflected in the January 2014 Morgan McKinley Employment Monitor which shows an increase of 10% in professional job vacancies in the first month of this year compared to January 2013 (10,666 compared to 9,730).

The Monitor also registered a 57% increase in the number of professional job opportunities in January 2014 compared with December 2013 (6,785) but, while positive, this large increase is attributable to the fact that December is typically a quieter month for job activity and candidate availability.

The number of professionals seeking new job opportunities increased by 49% from 5,658 in December 2013 to 8,430 in January 2013. The number of job seekers has declined by 13% from 9,735 in January 2013 to 8,430 for January 2014. The month on month upsurge in professionals seeking new job opportunities is a result of the seasonal differences in the market between December and January.


Karen O’Flaherty, Chief Operations Officer, Morgan McKinley commented:
“Since the beginning of the year there are signs that employer confidence is returning. Employers are becoming increasingly aware of the competitive nature of sourcing talent and hiring criteria has softened across many industries.

“The ramp up within the HR sector is indicative that many organisations are shifting their focus to attraction, retention and engagement for the year ahead. Benchmarking and retaining talent is at the top of the list for many organisations and there is continued demand for compensation and benefits professionals. Also strong demand continues from multinationals seeking talent acquisition professionals to add to existing teams.

“Within the general financial services sector we’ve seen an overall increase in the flow of new positions. Specifically, in insurance highly sought after candidates include underwriting and claims professionals while in funds there remains a steady demand for fund accountants and transfer agents across all levels. Many roles which were previously hybrid in nature are now being divided due to increased volumes of workflow and the need for specialisation.

“The accounting market is experiencing an increased requirement for transactional level professionals including AP, AR, payroll and accounts assistant across multinationals, shared services and SME’s. Additionally Irish-owned companies are seeking candidates for their international operations as the world-wide market shows signs of improvement.

“Opportunities for IT contractors within the area of web and mobile technologies continue this year. Contractors who are in the position to start immediately are sought after as upcoming project deadlines within organisations require urgent talent acquisition. This has increased contractor rates and we expect to see this trend to continue over the coming months.

“Overall January shows an increased flow in new positions across a range of sectors and industries which we expect will be maintained through 2014. We have also seen the expected increase of candidates looking for new roles which can be explained as part of their ‘New Year New Job’ promise and is reflective of the general positivity in the market.”

View previous versions of the Morgan McKinley Irish Employment Monitor.


Chart 1: Professional jobs

Press Release: Irish Employment Monitor - January 2014
 

Chart 2: Professional job seekers
         Press Release: Irish Employment Monitor - January 2014


– ENDS –

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
Elaine Kennedy - 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.

 

Transformation Director
amcdonogh@morganmckinley.com