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Professional jobs increase by 6% in the first half of this year, reveals Morgan McKinley report

Highlights

Monthly data:

&middot         The Morgan McKinley Irish Employment Monitor registered an increase (2%) in the number of new professional jobs in the market in June 2014 compared to May 2014.

&middot         Compared to the same month last year, the number of new professional job vacancies has risen by 4%.

Quarterly data:

&middot         The Monitor recorded an increase (3%) in the number of professional job opportunities from Quarter 2 2013 to Quarter 2 this year.

&middot         There was also an increase of 6% in the number of professional job opportunities from H1 (January to June) 2013 compared to H1 2014.

Job seeker data:

&middot         June 2014 saw a month-on-month decrease (-1%) in the number of professionals entering the jobs market.

&middot         Compared to the same time last year, this is an increase of 9% in the number of professional job seekers in the Irish market.

The Monitor recorded an increase of 2% in job opportunities between May of this year and June (9,368 to 9,537). The healthy state of the Irish professional jobs market is highlighted by the fact that, not only has there been an increase in the number of jobs coming onto the market in June this year when compared to the same month in 2013 (9,537 versus 9,148), but that there was also a 6% hike in the number of professional job opportunities in the first six months of the year.

With regard to new professional job seekers entering the market in June 2014 compared to the same month in 2013, the number rose by 9% from 8,375 to 9,125. This was a month on month decrease of 1% (from 9,250 to 9,125) in May 2014.

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

“We would typically expect a slowdown in recruitment activity coming into the summer months so the increase (albeit slight) in the number of professional jobs available on the market in June is undoubtedly a positive indicator for the economy and for job seekers.

“The demand for talent remains unabated particularly within sectors such as pharma, ICT, FMCG and most areas of financial services. However, the improvement in the property sector, specifically in Dublin, has had positive knock-on effects for numerous roles in many areas such as legal, office support and finance. These are further strong indicators of renewed confidence in permanent hiring.

“Within financial services there is continued demand for accountants who are newly qualified. Professionals with up to three to five years’ post-qualified experience are commanding higher salaries compared to those in 2013.

“In the banking sector, both domestic and international banks are increasing headcount within their corporate banking divisions, particularly within the areas of credit analysis and relationship management. Jobseekers with strong credit skills and a background in dealing with large corporates are particularly in demand. As credit facilities increase and confidence in the economy improves, there has been a renewed demand for talent and experience in areas such as wealth management and pensions’ consultancy.

“The ICT sector nationally is seeking permanent professionals across all levels, from multi-nationals, SME’s and start-ups as confidence in either funding or commitment for longer term projects is secured. Senior project managers and strong development skills are highly sought after, including niche technologies such as Angular.js in Javascript. More IT employers are looking to attract finance professionals than before which may be a result of business expansion or new product areas.

“Within the supply chain sector there is an increased demand for specialist roles within the food, medical device and pharmaceutical industries. Product and materials management professionals with previous experience in budgeting, sales and order planning are highly sought after as companies continue to improve efficiencies as a means of driving competitive advantage and reducing cost.

“The professional job seeker is becoming more discerning, with many of the top talent in the market finding themselves with at least a couple of job offers. Equally many more employers are seeking market information and intelligence to benchmark existing remuneration and benefit packages in order to retain and attract the requisite talent.

“In the coming months we anticipate a modest pace for hiring and professionals coming on to the market as we move further into the summer months”.

View previous versions of the Morgan McKinley Irish Employment Monitor.

View the June Employment Monitor Infographic

http://www.morganmckinley.ie/article/irish-employment-monitor-infographic-june

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