Professional jobs rise in January 12, but cautious outlook remains [press release]

Sharon O'Donnell - 01/02/2012
La Creme Irish Employment Monitor

Highlights

  • The Morgan McKinley Irish Employment Monitor recorded a month-on-month increase of 39% in the number of new professional jobs available in January 12
  • There was also a marked increase (28%) in the number of professional job opportunities when compared to the same time last year
  • There was a significant increase in professionals looking for new roles, with the number rising by 70% compared to January 11.

Professional Jobs

Professional Jobseekers

The first Morgan McKinley Irish Employment Monitor for 2012 registered an increase of 39% in the number of new professional job opportunities from December 11 (6,720) to January 12 (9,312). This was also notably higher (28%) than the number of professional roles available in January 11 (7,250).

With regard to new professional job seekers in the Irish employment market, there was a significant rise from 5,620 in December 11 to 11,225 in January 12. This was also a substantial increase (70%) when compared to the same month last year, when 6,595 people were seeking new professional career opportunities.

Karen O’Flaherty, Chief Operations Officer, Morgan McKinley commented:

“The 39% increase in the number of newly-registered jobs and the rise in professionals entering the jobs market in January '12 are indicative of seasonal recruitment trends. Job seekers are more likely to be active and curious about potential opportunities at the start of the year. Also many employers now have New Year budgets confirmed or committed projects to complete, enabling them to release new job roles to the hiring market. Typically, at the beginning of the year, the speed of hiring increases and jobseekers tend to be more buoyed by potential career moves or internal restructuring opportunities.

The fact that January 12 registered the highest number of professional job opportunities since September 08 is very positive. However, the mood from employers, specifically indigenous Irish companies, SMEs and the financial services sector remains cautious, with multinationals and the export-led sectors the most active and optimistic for the year ahead.

With ongoing uncertainty in the economy, most professional employers’ visibility of the permanent jobs market continues to be reflected in short term commitment to hiring plans and budget sign-off. This is reflected in our most recent Hiring Intentions survey which found that 12% are still unsure of their hiring strategies for the year.

However this has increased the opportunity for professionals in temporary assignments. There is ongoing demand for skills in projects. Most notably in niche areas such as restructuring, credit and change management, the temporary jobs market is likely to be a growth area for the year ahead.

Overall, at this early stage in the year, it is difficult to make predictions. Hiring activity for January '12 is mainly impacted by the ‘New Year’ effect and it is likely to be the end of February 12 before we will have a clearer sense of companies’ hiring budgets and plans for the remainder of H1.” 

 

- ENDS -

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. 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 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 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 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.

Sharon O'Donnell's picture
Associate Director
+353 1 4321500
sodonnell@morganmckinley.com