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MORGAN McKINLEY IRISH EMPLOYMENT MONITOR - OCTOBER 2010

MORGAN McKINLEY IRISH EMPLOYMENT MONITOR - OCTOBER 2010
 
October 2010 job numbers fall but still second highest month in two years
 
Highlights
 
The Morgan McKinley Irish Employment Monitor reports that the number of new professional jobs in the market in October 10 fell by 6% from the September 10 figure but still remained the second highest monthly number recorded since October 08
 
There was a 44% increase in new professional jobs in the year-on-year comparison to October 09
 
October 10 saw a 16% drop in the number of professionals entering the jobs market month-on-month
 
When compared to October 09 there was a modest 1% increase in the number of new professionals entering the jobs market in October 10.
 
The latest Morgan McKinley Irish Employment Monitor shows that new job opportunities for professionals in Ireland increased by 44% from 4,333 in October 09 to 6,244 in October 10. The October 10 figure showed a 6% decrease from the September 10 figure of 6,674.
 
The number of professionals seeking new employment opportunities decreased by 16% from the September figure, falling from 13,175 to 11,115. This is however a 1% increase year-on-year from October 09 levels.
 
Brian Murphy, CEO of Premier Group Ireland, commented: Although the Employment Monitor recorded a drop of 6% in the number of new professional jobs coming onto the market in October 10 when compared to September 10, we were pleased that the overall number remained reasonably strong and was the second highest monthly figure recorded since October 08. When compared to the same month in 09, the October 10 figure was a significant 44% ahead.
 
We saw reasonable hiring activity in most sectors in October 10 with multinationals providing the bulk of the new opportunities being created. Recruitment levels in the IT and pharmaceutical sectors in particular held up well throughout the month as did activity in the financial services sector.
 
Demand for IT professionals with software development skills in Java and .Net continued and we saw increased activity in the IT contractor market, with many companies looking to these professionals to provide them with flexible staffing solutions. While there has been reasonable demand for HR professionals at the senior end of the market for several months, in October 10 we saw a noticeable increase in demand for HR administrative staff and in-house recruiters for both permanent and temporary positions. Hopefully this bodes well for client recruitment plans in 2011.
 
The number of professionals entering the market in October 10 fell by 16% from the September 10 figure, but the fall was exaggerated by the seasonally high number experienced in September. The number of new professionals seeking employment opportunities in October 10 was in line with the October 09 numbers, recording a very modest 1% increase.
 
It is important to bear in mind that while the number of new vacancies in 2010 is trending positively thus far, we are still well short of the numbers experienced three years ago and the current challenges and uncertainties facing the Irish economy are testing client confidence. That said, the positive trend, particularly within multinational organisations, is encouraging and instilling cautious optimism amongst professionals.

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