The Morgan McKinley Irish Employment Monitor for September 2012 shows that professional job opportunities in Ireland have increased 6pc in Q3 2012 compared to Q3 2011; however, recruitment is expected to slow approaching the end of the year.
Though job vacancies in Q3 2012 decreased 2pc from 25,112 in Q2 to 24,361, the year-on-year increase shows a wider picture of gradual improvement.
“The 6pc rise in job availability from Q3 2011 to Q3 2012 follows a pattern of rises from Q3 to Q3 since job opportunities fell dramatically at the start of the downturn in 2008,” said Morgan McKinley’s COO Karen O’Flaherty. “Although there was a 2pc drop from Q2 2012 to Q3 2012 – which suggests there is no room for complacency about jobs market recovery – compared to earlier years, overall there is an emerging picture of steady improvement across the market.”
Compared to September 2011, September 2012 saw an 18pc increase in job opportunities and a month-on-month rise of 13pc.
Professional job opportunities, September 2011 to September 2012 (Source: Morgan McKinley)
“We can attribute this increase to a number of factors, such as the uplift in start-up businesses, increased foreign direct investment, as well as sectors such as IT, manufacturing and life sciences, which have all experienced growth throughout 2012,” said O’Flaherty. However, she also notes that September 2011 was a particularly stagnant month for the jobs market, which is reflected in the significant increase.
Figures from September 2012 show that less professional job seekers are entering the market, down 8pc from August and with a minimal 1pc increase year-on-year. O’Flaherty speculates this could imply that job seekers are becoming more passive, but she also raises the spectre of emigration as a possible cause for this decline.
Professional job seekers, September 2011 to September 2012 (Source: Morgan McKinley)
Finally, despite steady growth, O’Flaherty predicts an upcoming slowdown in recruitment. “Due to the protracted growth forecast from the Central Bank, we can expect modest hiring activity from now until year end,” she said. “Job offers are likely to be much more considered and we anticipate lengthier decision-making processes with regard to permanent hiring.”