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MORGAN McKINLEY IRISH EMPLOYMENT MONITOR NOVEMBER 2012

MORGAN McKINLEY IRISH EMPLOYMENT MONITOR NOVEMBER 2012

“Monitoring the pulse of the Irish professional jobs market”

Despite year-end decline, jobs market remains 11% ahead of November 11

Highlights

The Morgan McKinley Irish Employment Monitor recorded a year-on-year increase of 11% in the number of new professional jobs available in November 12 compared to November 11.

There was a month-on-month decline of 6% in the number of professional job vacancies.

November 12 saw a 10% decrease in the number of professionals entering the jobs market year-on-year.

When compared to October 12, there was a 5% decrease in the number of new professional job seekers.

13 December 2012 - The latest Morgan McKinley Irish Employment Monitor registered an increase of 11% in the number of new professional job opportunities from November 11 (7,345) to November 12 (8,187). The number of jobs available compared to last month (8,686) however, decreased by 6% (8,187).

With regard to new professional job seekers entering the Irish market, there was a year-on-year decrease of 10% from 10,885 in November 11 to 9,750 in November 12. The number of professionals seeking new career opportunities also decreased by 5% compared to October 12 falling from 10,295 to 9,750.

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

“The November Employment Monitor has registered a decline in professional jobs available in November 12 compared to October 12. Following the pattern of previous years we would expect to see this seasonal decline: the latter half of November marks the start of the traditional end of year slow down when many companies hold off on hiring decisions until new budgets are introduced in the New Year. The Irish Budget was issued in November and it is highly likely that some businesses would have held off on progressing with hiring decisions until the details of the Budget were unveiled. Fortunately, the announcement of &euro175m in funding to boost indigenous jobs in the life sciences, ICT, and clean tech sectors as well as the implications for SMEs of the Government’s 10-point tax plan are positive indicators for hiring in 2013.

“Despite the fall in jobs compared to October 12, this month has seen an 11% increase in job availability from November 11.  This was in part due to increased demand for professionals within the areas of audit, restructuring, supply chain, procurement and science roles such as QA and laboratory analysts. Areas also showing growth include talent acquisition and positions in the digital marketing discipline. The continual demand for professionals with IT development and language skills remains. Anecdotal evidence suggests that the cost of retaining these niche skilled professionals is set to increase. As inward investment continues to generate opportunities, companies are recognising the need to ensure that their employer proposition is attractive and correctly aligned to the specific talent they are trying to acquire.

“The 5% month-on-month decrease in the number of professionals seeking new job opportunities is again a typical indicator of the year end slow down. The increase in jobseeker numbers compared to 2011 could be attributed to the professionals who emigrated in previous years and are returning home and gauging the hiring market in the hope of securing domestic employment.”

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