Morgan McKinley Irish Employment Monitor March 2011
March 11 sees highest volume of new professional job opportunities since October 08
- Morgan McKinley Irish Employment Monitor March 2011
Monitoring the pulse of the Irish professional jobs market
In March 11, the Morgan McKinley Irish Employment Monitor registered a 20% month-on-month increase in the number of new professional jobs in the market
The number of new professional job vacancies was up 75% year-on-year from March 10 and was the highest volume recorded since October 08
March 11 also saw a 22% increase in the number of professionals entering the Irish jobs market Compared to the same time last year, there was however a decrease (34%) in the number of new professional job seekers in March 11.
April 2011 - The latest Morgan McKinley Irish Employment Monitor reported a 20% increase in new job opportunities for professionals in Ireland, increasing from 7,100 in February 11 to 8,550 in March 11. There was also a significant uplift (75%) from the March 10 figure of
March 11 saw 22% more professionals beginning their job searches, with the month-on-month figure rising from 6,380 to 7,755. Compared to March 10, when 11,790 professionals entered the jobs market, this was a 34%
Karen O'Flaherty, Chief Operations Officer, Premier Group Ireland commented
"March 11 saw a 75% year-on-year increase in new professional job opportunities. This significant rise, although from a subdued March 10, was the highest level registered by the Irish Employment Monitor since October 08.
Despite the backdrop of the reduced growth forecast for Ireland, anecdotal evidence from employers, in both city and regional centres, suggests that the mood in the professional sector heading into Q2 is more optimistic than the same time last year.
The market for technical roles is particularly buoyant, for example, demand for professionals from pharmaceutical and medical device multinational corporations considerably outstrips supply in the Cork
region. Further growth is forecast for technical positions in Q2, with
export-led manufacturing companies expected to provide the highest
number of job opportunities.
IT professionals are still highly sought after across the board, as are those with multilingual skills to support growth in multinationals. March 11 saw an increased number of roles for internal recruiters and senior HR professionals, an indicator that a number of businesses are increasing their focus on attracting and retaining key talent. The financial services sector had a relatively modest month, as several companies were hesitant to progress hiring plans until the results of the banks’ stress tests were released.
Furthermore, pockets of the financial services sector, for example
retail banking, were still dealing with serious ec onomic challenges.
There was a 22% month-on-month increase in the number of new job professional seekers in March 11, suggesting that many professionals are feeling more confident about exploring career moves.
In some fields, salary increases are a motivator, particularly for those who have had their pay frozen for the past two to three years. As the jobs market continues to improve, professionals will be in a position to make more strategic and discerning career decisions.
Overall, the end of the fiscal year is in some ways a turning point for the business community. Following the formalisation of the new Government and the release of the stress tests, there is a feeling that decisions have been taken and it is time to move forward. This more stable environment should lead to restructuring and development of new business areas in the next quarter, leading to increased movement in the professional jobs market.