The latest Morgan McKinley Irish Employment Monitor registered its sixth consecutive monthly decrease with a 3% fall in available professional jobs in September 11 from 7,767 to 7,500. Compared to the same time last year, this was a 12% increase in the number of new roles coming onto the market from 6,674 in September 10.
There was also a fall of 8% in available roles over Q3 11 compared to Q2 11– the first consecutive quarterly decrease registered since the 11% fall from Q2 09 to Q3 09.
The number of professionals newly entering the hiring market across Ireland in September 11 fell from 10,965 to 10,105 – a fall of 8%. Job seeker numbers also dropped by 23% from the same month last year which registered 13,175 professionals entering the jobs market.
Karen O’Flaherty, Chief Operations Officer, Morgan McKinley commented:
“It’s disappointing to see a continuation of the downward trend in job opportunities in September 11; however it is very much indicative of the current economic climate. The 3% month-on-month fall in jobs has contributed to an overall decrease of 8% in job vacancies from Q2 11 to Q3 11. This is the first consecutive quarterly fall in professional job availability in the Irish hiring market for two years.
“Hiring and business activity remain challenged as instability in the financial markets and Euro zone debt issues continue to impact the global economy, causing uncertainty amongst employers. Despite the drop in job opportunities in September 11, employers are hiring cautiously in specific and niche roles and functions.
“The market for technical roles is relatively buoyant with talent sought in areas such as R&D and medical devices. This is in part due to the role played by the IDA in attracting foreign direct investment to Ireland reflected by multinational organisations doing the bulk of hiring across most industry sectors.
“Job opportunities within financial services generally have decreased; turmoil in global banking has obviously affected this sector. The impact of these financial difficulties has however led to some niche demand across credit and restructuring within corporate banking. Top tier accountancy firms are starting to anticipate growth by increasing their level of graduate recruitment which is a positive indicator for the year ahead.
“The drop in candidates entering the market in September 11 may suggest that job seekers are slightly more wary when it comes to changing or seeking a new position. Expedient and significant decision making over the European debt crisis will be welcome to ensure a degree of stability and go some way to improving the outlook for the end of the year and into 2012.”