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Morgan McKinley Irish Employment Monitor -Monitoring the pulse of the Irish professional jobs market

Morgan McKinley Irish Employment Monitor - Monitoring the pulse of the Irish professional jobs market”

Seasonal factors contribute to the 2% decline in professional job vacancies

Highlights

The Morgan McKinley Irish Employment Monitor held relatively steady from July 12 to August 12, with only a slight dip (2%) recorded in the number of new professional job opportunities

There was a minimal increase (1%) in the number of professional job opportunities when compared to the same time last year

August 12 saw a 2% decrease in the number of professionals entering the jobs market month-on-month

When compared to August 11, there was a minor increase (1%) in the volume of new professional job seekers.

11th September 2012 - The latest Morgan McKinley Irish Employment Monitor registered a 2% decrease in the number of new professional job opportunities from July 12 (7,953) to August 12 (7,828). The number of jobs available compared to the same time last year (7,767) remained relatively unchanged, rising by 1%.

With regard to new professional job seekers entering the market, there was a decrease of 2% from 11,365 in July 12 to 11,120 in August 12. There was an insignificant increase (1%) to the number of professionals seeking new career opportunities during the same month last year (10,965).

Karen O’Flaherty, Chief Operations Officer, Morgan McKinley commented: “The dips in job availability and professional job seeker numbers are expected and indicative of the summer period. August is traditionally a more subdued month for the Irish professional jobs market as many hiring managers and job seekers take time off.

“Professionals in demand continue to be those with IT development skills part qualified and qualified accountants with a second European language, internal auditors and procurement managers. Graduate hiring experienced growth particularly within the financial services and banking sectors this month which reflects historical seasonal trends for this time of year when & lsquo;fresh’ graduates enter the hiring market. Larger companies have begun to hire internal recruitment teams - a positive indicator for future hiring plans. Last month’s announcement from the NCB Purchasing Managers’ Index indicated marginal expansion in Ireland’s manufacturing sector which when compared to other EU countries is an encouraging sign for the economy, as an upswing in manufacturing activity often suggests a shift in both business and consumer confidence.

“As businesses restructure and evolve in an effort to cope with the uncertain economic situation we have noticed that some roles change in their specification throughout the hiring period, demonstrating a lack of clarity around business critical roles and leading to a protracted process. With anticipated redundancies in certain sectors and the impending harsh budget announcement at the end of this year, job seekers have become more passive, taking a cautious approach to the jobs market which is also slowing down hiring.

“Through our global network of offices we have witnessed an increase in enquiries from foreign businesses requiring professionals, both domestically and internationally this is an encouraging sentiment for the coming months. Looking ahead, we anticipate increased hiring activity for September. With decision makers returning from leave, there is a need for the remainder of recruitment budgets to be allocated and met before the end of 2012.”

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