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Morgan McKinley Report Shows Significant Jobs Increase in January

Morgan McKinley Report Shows Significant Jobs Increase in January

Highlights

•              The Morgan McKinley Irish Employment Monitor reports that the number of new professional jobs in the market in January 2013 increased by 42% from December 2012.

•              This also reflected a 4% rise in job vacancies from January 2012.

•              January 2013 saw 62% more professionals entering the jobs market month-on-month.

•              However, when compared to January 2012, there was a 13% fall in the number of professionals entering the jobs market in January 2013.

The latest Morgan McKinley Irish Employment Monitor shows that new job opportunities for professionals in Ireland increased by 42% from 6,861 in December 2012 to 9,730 in January 2013. This also represented a 4% increase from the January 2012 figure of 9,312.

With regard to new professional job seekers entering the Irish market, there was an increase of 62% from 6,000 in December 2012 to 9,735 in January 2013. The number of professionals seeking new career opportunities compared to January 2012 decreased, however, by 13% from 11,225.

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

“January 2013 saw a significant increase in new professional job opportunities coming onto the market compared to December 2012. It is worth noting that this rebound, although positive, is seasonally expected as January typically brings about new recruitment plans and budgets for the year ahead.

“A rise in professional vacancies compared to the same time last year, though modest, just 4%,  is still welcome and in line with a more upbeat sentiment than January 2012. Encouragingly economic indicators are married with a return by some sectors to pre-recession growth divisions within their businesses including human resources, research and development as well as sales and marketing. These specific vacancy types are significant as they demonstrate a return by employers to invest in areas of growth.

“Another niche hiring area likely to increase throughout 2013 is the demand for professionals in risk, compliance and regulation. Senior risk advisory professionals within financial services were in high demand this month – this echoes the London financial services market and is a result of regulatory pressures that institutions are facing. We expect that with the passing of the Personal Insolvency Bill 2012, there will also be a demand for professionals with expertise in this specialisation.

“Professional job seeker figures have increased from December 2012 which is seasonal and typical of a New Year outlook by people when considering a career change and fresh opportunities.

“Although not included in our data, we also expect more contract and/or fixed term job opportunities to be offered within the professional hiring market.  This is a trend that has continued over the last 24 months and one which is unlikely to change as employers commit to less permanent hiring and professionals become more open and flexible/considerate to the changing dynamic and uncertain business environment that organisations face.

“Overall recruitment activity in 2013 has started on a positive note and we hope that with the improved economic sentiment, this will continue throughout the year.”

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