5% decline in new jobs in May 2012 compared to last year

Sharon O'Donnell - 01/06/2012
La Creme Irish Employment Monitor

Irish professional jobs market registers a 5% decline in new jobs available when compared to the same time last year.

Highlights

  • The Morgan McKinley Irish Employment Monitor recorded a month-on-month decrease of 12% in the number of new professional jobs available in May 12
  • There was also a decrease (5%) in the number of professional job opportunities when compared to the same time last year
  • May 12 saw a 22% increase in the number of professionals entering the jobs market month-on-month
  • Compared to the same time last year there was a 39% increase in the number of new professional job seekers in May 12.

 

The latest Morgan McKinley Irish Employment Monitor registered a second consecutive decrease in the number of new professional job opportunities from April 12 (8,919) to May 12 (7,890), of 12%. There was also a year-on-year decline of 5% in the number of professional roles available in May 12 (7,890) when compared to May 11 (8,283), the first such annual decrease since November 09.

The number of professionals seeking new job opportunities rose by 22% from 10,390 in April 12 to 12,645 in May 12. This was also a marked increase (39%) when compared to the 9,120 people seeking new career opportunities during the same month last year.

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

 “The current instability and turmoil within the European Union and international financial markets, in particular the focus on Greece and Spain, has certainly impacted confidence in the Irish hiring market. This turmoil is reflected in a decrease in the number of new professional job opportunities coming onto the market as companies remain cautious about their hiring plans and indeed slow their recruiting processes to allow greater clarity to return to the markets. However, some positive news was the ratification by the Irish electorate of the EU Fiscal Compact Treaty, which will be seen as good news for investors and should help to maintain Ireland’s position as a destination of choice for foreign businesses.

Recent market sentiment has shown an increase in the number of contract and temporary roles coming onto the market. This is not reflected in the Irish Employment Monitor, which only tracks Ireland’s permanent professional jobs. Temporary contracts are considered flexible, cost-effective hiring solutions and are popular during times of uncertainty or holiday periods. 

Also it was encouraging to see the enactment of The Protection of Employees (Temporary Agency Work) Act 2012. The act confers rights to equal treatment on agency workers regarding basic working and employment conditions. It has been received positively as a clear and fair piece of legislation for both employers and agency workers.

The month-on-month increase of 39% of professionals seeking new jobs is reflective of confidence in the market as professionals are now weighing up their career options and seeking new opportunities. Despite the fall in the number of new professional jobs available in May 12, there is evidence of jobseekers within the technical, IT and multilingual sectors receiving multiple job offers, reflecting continued demand within certain market sectors.”

View pdf verion of this report here.

- 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