Job opportunities rise 26% year-on-year in February 11
Job opportunities rise 26% year-on-year in February 11 as hiring green shoots appear for Irish companies and SMEs
The Morgan McKinley Irish Employment Monitor registered a slight decrease (2%) in the number of new professional jobs in the market in February 11 compared to January 11.
However, the number of new professional job vacancies was up 26% year-on-year from February 10.
February 11 also saw a slight month-on-month fall (3%) in the number of professionals entering the jobs market20.
Compared to the same time last year, there was a significant decrease (58%) in the number of new professional job seekers in February 11.
Monday 7th March 2011 - The latest Morgan McKinley Irish Employment Monitor reported that new job opportunities for professionals in Ireland decreased marginally (2%) from 7,250 in January 11 to 7,100 in February 11. This was however, a 26% lift on the February 10 figure of 5,633.
There was also a dip in professionals beginning their job searches in February 11, decreasing 3% from 6,595 to 6,380 month-on-month. Compared to February 10, when 15,060 professionals entered the jobs market, there was a 58% decrease.
Karen O'Flaherty, Chief Operations Officer, Premier Group Ireland commented:
"Professional job opportunities saw a small month-on-month decline in February 11. However the 26% year-on-year increase in job vacancies suggests that business confidence - which we have seen return in certain niche areas over the past year - is now starting to improve across all sectors in the professional jobs market.
"This increase comes from companies that had essentially frozen hiring since the downturn which are starting to recruit again, albeit modestly. For example, legal, marketing and HR roles are once again coming onto the market from indigenous companies, as anticipated last month. After an extremely challenging few years, we are also seeing a revival in hiring from SMEs. The formation of the new coalition Government will signify a new start for many of these companies, and will hopefully lead to a more stable and visible business landscape.
"There was a notable decrease (58%) in the number of new professional job seekers in February 11 compared to the same time last year. This highlights the shortage of skilled workers in specific sectors, for example, demand for multilingual professionals significantly outstrips supply nationwide. In addition, the inflow of international job seekers has slowed, which may have contributed to this decrease.
"February 11 also marked the 'return of the counter offer', another indicator that specific talent is in high demand. There were increasing instances of companies using remuneration offers to outbid each other to retain or attract key professionals. This trend was particularly noticeable in the IT and technical hiring markets, where skills shortages are being felt most acutely.
"Demand for IT professionals, particularly those with experience in design and development, has been extremely high over the last 12 months and we are continuing to see skills deficits in the areas of Java and .Net. In fact, our Employment Monitor recorded a 35% increase in IT job vacancies from Q3 10 to Q4 10. In response to this demand, we have launched a new IT division in our Limerick office. Drawing on the experience of our established IT teams in Cork and Dublin, this specialist division will service the Limerick, Galway and Mid-West areas. We are delighted to be 'on the ground' in Limerick in
what is a very dynamic time for IT recruitment."