Stable volume of new professional jobs signals cautious start to Q2

Highlights

• The April 11 Morgan McKinley Irish Employment Monitor recorded a negligible decrease (0.2%) in the number of new professional jobs in the market from March 11
• It did however, register a 60% increase in new professional job vacancies compared to the same time last year
• April 11 saw an 18% decrease since March in the number of professionals seeking jobs in the Irish employment market
• Compared to April 10, there was also a notable decline (45%) in the number of new professional job seekers.

The number of new professional job opportunities in the market held steady from March 11
to April 11, according to the latest Morgan McKinley Irish Employment Monitor. There was a
marginal decrease (0.2%) from 8,550 in March 11 to 8,533 in April 11. This was however, a
significant uplift (60%) from the April 10 figure of 5,335.

The volume of professionals seeking new job opportunities in Ireland fell 18% from 7,755 in
March 11 to 6,375 in April 11. This was also a notable decrease (45%) from the April 10 figure of 11,580.

Karen O’Flaherty, Chief Operations Officer, Premier Group Ireland commented:

“The volume of new professional job opportunities was relatively unchanged (-0.2%) month-on-month in April 11. This indicates a more cautious approach to business growth and therefore hiring. This is likely to be a reaction to reduced economic growth forecasts for Q2 11, with job creation remaining particularly subdued in indigenous SME sector.  

“There was however, a significant jump (60%) in new professional job opportunities compared to the same time last year, although this rate of growth was down on the March 11 year-on-year increase of 75%. Multinational corporations are still the main drivers of growth in the professional jobs market as demand for Irish exports accelerates. The Central Statistics Office reported that export volumes rose to their highest level in almost a decade in February 11 and contributed more than €8 billion to the Irish economy during that month.

“April 11 saw an 18% month-on-month decrease in the number of new professional job seekers. This can largely be attributed to a reduced momentum in the job market in the second half of the month, when many candidates and decision makers took leave over the Easter period.

“Many newly qualified accountants sought career moves in April at the conclusion of their practice contracts, resulting in increased competition for roles at this level in Industry. An increased number of these individuals are considering opportunities in the UK or further afield, where there is greater demand for skilled accountants and interesting opportunities particularly in the financial services sector. However, with the increasing number of multinationals establishing operations in Ireland, we hope to see many of these accountants bringing their international experience home in the near future.

 Chart: Professional Jobs

Professional Job Seekers

- Notes to editors

Further press information:
Tim Kinsella, MKC Communications, Tel: 086 813 7512, Email: tim@mkc.ie

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. 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 Morgan McKinley in Ireland
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 and 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.

Morgan McKinley recently ranked 7th in the Irish Independent’s listing of Best SME Workplaces (less than 250 employees) in Ireland. We are also proud to be ranked in Deloitte’s Top 20 Best Managed Companies in Ireland for 2011.

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.ukfor details.

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 10 countries. The specialist recruitment brands within Premier Group are Morgan McKinley, la crème and Accreate. www.premiergroup.ie