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Morgan McKinley Irish Employment Monitor February 2012

Morgan McKinley Irish Employment Monitor February 2012

“Monitoring the pulse of the Irish professional jobs market”

Professional job opportunities in February decrease by 9% compared to January 12

The Morgan McKinley Irish Employment Monitor in February 12 recorded a decrease of 9% in the number of new professional job vacancies coming on to the market

There was however a 19% rise in the number of professional job opportunities compared to the same month last year

The number of professionals looking for new job opportunities remained relatively stable month-on-month with a 1% increase

Compared to the same time last year, this was a 77% rise in the number of professionals seeking new job opportunities.

8 March 2012 - The February 2012 Morgan McKinley Irish Employment Monitor registered a 9% decrease in the number of new professional job opportunities from January 12 (9,312) to February 12 (8,462). This was also a 19% increase on the number of new professional job vacancies registered in February 11 (7,100).

The number of professionals seeking new job opportunities rose slightly from 11,225 in January 12 to 11,305 in February 12. This was however, a substantial yearly increase of 77% when compared to February 11 (6,380).

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

“The decline in professional job opportunities experienced in February 12 (9%) is an expected drop from the influx in January 12. There is a sense however that the speed of the recruitment process has picked up which can be explained by & lsquo;new year’ forecasts and hiring budgets being realised. This is particularly evident in niche skill sets which include professionals with experience in IT (specifically, software development), general ledger accountants and jobseekers with multilingual skills.

“It was encouraging to see an increase of 19% in the number of new professional job opportunities coming onto the market in February 12 compared to the same time last year. The bulk of the hiring still remains predominantly within large multinational firms across Ireland with the SME and smaller indigenous businesses continuing to be challenged. This increase in new professional jobs is in part due to many companies continuing to undergo internal restructuring as well as developing new business areas.

“The rise in professional jobseekers from February 11 indicates a greater appetite from professionals considering job opportunities - both domestically and globally. Specifically professionals within the financial services sector become more active in the jobs market after year end bonus announcements.

“Although it still remains difficult to forecast hiring activity, the jobs market and Ireland should be buoyed by the recent hiring announcements from PayPal and Eli Lily, which indicate significant job opportunities.”

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