The latest Morgan McKinley Irish Employment Monitor reported a 9% increase in new job opportunities for professionals in Ireland, increasing from 8,462 in February 12 to 9,246 in March 12. There was also an uplift (8%) from the March 11 figure of 8,550.
March 12 saw 8% more professionals beginning their job searches, with the month-on-month figure rising from 11,305 to 12,200. This was however, a substantial yearly increase of 57% when compared to March 11 (7,755).
Karen O’Flaherty, Chief Operations Officer, Morgan McKinley commented:
“The increasing number of professional jobs available in March 12 illustrates that the hiring market continues to improve on the same time last year. The Morgan McKinley Irish Employment Monitor registered an 18% increase in the number of new professional jobs in Q1 12, compared to Q1 11.
There have been some positive improvements in the hiring market throughout Q1 12 including the average pace of the recruitment process and greater commitment to hiring and job sign- off from employers.
The increased confidence in the recruitment market is tempered by evidence of short-term business forecasting, demonstrated by a rise in demand for professionals to fill project and fixed term contracts versus permanent hires. These hires are averaging a contract duration of 12-24 months and are primarily seen in the accounting and financial services sectors.
Demand for IT professionals and those with multilingual skills across all sectors remains consistently high. Positively for the hiring market overall, redundancy announcements in Q1 12 have broadly been offset by the number of job creation announcements, namely HCL, Sogeti Ireland and Blackrock Incorporated.
However, ongoing economic uncertainty and long term visibility is shifting the traditional hiring sign- off process. Typically, we expect to see increased traction in hiring activity entering into Q2 12 however predictions are likely to be more short term given the market sentiment and we anticipate this trend continuing for the remainder of the year.”
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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. The first Premier Group Irish Employment Monitor was launched in May 2009 with data from April 2008 onwards.
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 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.
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.
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 & 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 2011, Morgan McKinley ranked 7th in the Irish Independent’s listing of Best SME Workplaces in Ireland and was also named in the 50 Best Small and Medium Workplaces in Europe by the Great Places to Work Institute. We were also proud to be ranked in Deloitte’s Top 20 Best Managed Companies in Ireland for 2011.
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.