CAUTION CREEPING INTO JOBS MARKET AHEAD OF BREXIT
Most in demand positions in September 2018:
The latest Morgan McKinley Employment Monitor registered a reduction of 2.15% in the number of new professional job opportunities available in September compared to the previous month. Overall, the availability of professional jobs increased by 11.6% in September 2018 compared to the same month a year ago.
There was also an increase of 16.7% in the number of professionals seeking new roles in September compared to the previous month. September was the third consecutive month of robust job search activity amongst professionals. However, the monitor recorded a decrease of close to 3.9% in the number of professionals actively seeking new job opportunities in September 2018, compared to September 2017 reflecting current economic conditions and near full employment.
Morgan McKinley Ireland, Global FDI Director, Trayc Keevans commented:
“Hiring activity in September was characterised by a degree of caution. This is the second month in a row that we have seen a decline in the number of new roles coming to the market. It is too early to tell, but it would indicate a certain level of caution creeping into the market place. There were more professionals seeking roles this month than previous, including returning Irish talent, but a slower decision making process around hiring activity has impacted pace. With Brexit on the horizon and the as yet unknown implications, we anticipated that the ensuing complexities and uncertainty would impact company forecasting and resource planning activity in the short to medium term and we believe this has been in evidence this month.”
“However, a significant number of positive job announcements in September indicate the underlying health of the professional jobs market particularly within growth areas which include Financial Services, Technology, Pharma and Life Sciences, AI and Machine Learning.”
“In the area of accountancy and finance demand has remained consistent and widespread across a variety of industry sectors. Positions have been generated as a result of business expansion, new business development, capital investment and business process improvement projects. Industry sectors with significant demand spikes include tech, pharma, medical devices, outsourcing and FMCG. The greatest challenge posed to companies right now in this area is the ability to attract experienced financial talent faster than their competitors.”
“September was a very strong month in the Life Sciences sector with regional locations winning the lion’s share of new roles. We saw a number of large multinationals make significant job announcements in regional locations such as Cork, Galway, Limerick and Dungarvan in Waterford. The message from the regions is quite strong; the Regional Action Plans for Jobs is working.
“Not to be outdone, Dublin is fast becoming a European leader in the area of AI and Machine learning which is evident in the quality of the many US multi-nationals and tech start-ups that are establishing such functions here. Our success in this area is dependent on attracting top international talent. Ireland needs to remain focused on initiatives to improve housing supply, access to schools, processing times for employment permits, broadband access and the overall infrastructure that will enable a quality of life that skilled international Talent are willing to relocate here for.
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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. See www.morganmckinley.ie for details.
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 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, Galway, Limerick and Waterford.
About Morgan McKinley:
Irish owned Morgan McKinley is a global professional recruitment and talent management company, connecting specialist talent with leading employers across multiple industries and disciplines.
With offices across Ireland, the UK, EMEA, North America, Asia and Australia, its professional recruitment expertise spans the accounting & finance, financial services, technical and IT sectors, among others. Morgan McKinley is a preferred supplier to most of the major multinational and indigenous employers in its specialist sectors.
In 2017, Morgan McKinley was recognised as one of the Top Ten Best Large Workplaces in Ireland, in the Great Places to Work Awards. The company also received an award for the best Learning & Development Organisation at the Irish Institute of Training and Development Awards.