Irish jobs market stable despite tech layoffs – Morgan McKinley

April 19, 2023

The Irish jobs market has remained resilient despite recent layoffs
in the technology sector, according to the latest Morgan McKinley
Ireland Quarterly Employment Monitor.

It shows there was a slight increase in professional job vacancies in
Ireland in the first quarter of 2023 compared to the previous quarter.

The number of jobs on offer has almost doubled since December 2022,
recovering from the cyclical decrease that the market experiences at the
end of every year.

Compared to the same quarter in the previous year, the number of professional jobs coming to the market decreased marginally.

The Employment Monitor also recorded an overall increase of 13% in
the number of professionals actively seeking new job opportunities
between the fourth quarter of 2022 and the first quarter of this year.

There were 38% more professionals actively seeking new opportunities
than there was a year previously in the first quarter of 2022.

Morgan McKinley Ireland said that the high number of professionals
currently seeking employment can be attributed to a delay in those who
received redundancy payments last year returning to the job market.

The report found that when it comes to salaries, employers are less
flexible than before to go above the market rate and are now putting
more of a focus on retaining good talent, rather than attracting new
candidates.

“Although the number of professional job vacancies has remained
relatively stable, we have seen an increase in demand for certain
skills, particularly in engineering, life sciences and construction
sectors,” said Trayc Keevans, Global FDI Director, Morgan McKinley
Ireland.

“Despite the cautionary approach to hiring in the technology sector,
the number of jobs coming to market has grown. The biggest area of
hiring has been in cyber security,” Ms Keevans said.

Article Source: Irish jobs market stable despite tech layoffs – Morgan McKinley

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