Irish Employment Monitor - July 2009

Highlights

• The number of new professional job vacancies in Ireland fell by 16% in July 09 compared to June 09 as the start of the summer season slowed hiring

• Compared to a year ago (July 08), new job opportunities continued to be at extremely low levels, down 75%

• The number of professionals who began their search for a new role in Ireland in July 09 increased by 7% versus June 09, however, this figure was still 48% down on July last year.

New job volumes fall further in July 09 

During July 09, the number of new professional job opportunities coming onto the Irish market dropped by 16% versus the previous month (June 09) - the lowest number recorded this year - as the typically slow summer season further stalled an already delicate hiring market. The fourth edition of the Premier Group Irish Employment Monitor showed that in July 09 the recruitment market remained considerably contracted compared to a year ago. The number of available jobs coming onto the market fell 75% from July 08 to July 09.

The number of professionals who started looking for a new role in July 09 increased by 7% against the previous month (June 08), however, the new candidate figure was down 48% versus the same month the previous year (June 08). Anecdotally, this drop can be attributed to those professionals currently employed choosing to stay in their existing role rather than voluntarily entering a difficult jobs market.

Brian Murphy, Managing Director of Premier Group in Ireland comments:

"It is regrettable to see that the number of new professional job opportunities declined further in July, but in many ways this slowdown was expected. The summer months, particularly July and August, are traditionally a quieter period for recruitment due to the summer holiday season. This year, the decline in hiring volumes has been exacerbated by the difficult economic conditions. "

"Despite the low job figures, there does seem to have been a slight improvement in employers’ commitment to the hiring process. Hiring managers are demonstrating a greater appetite to bring the hire to completion rather than put the vacancy ‘on hold’ mid-process, which had been a common occurrence earlier in the year. "

"That said, it must be stressed that the recruitment market remains extremely competitive for those looking for work and so jobseekers really do need to be flexible and realistic about the type of role, salary and location that they are willing to consider. Despite July registering a month-on-month uplift in the number of people starting to look for a new role, many professionals currently in work are too nervous to voluntarily enter such a competitive hiring market. This can explain the 48% year-on-year drop in professional candidates actively seeking work in July."

The Premier Group Irish Employment Monitor measures the pulse of the Irish professional jobs market by tracking the number of new job vacancies and new candidates within the Republic of Ireland each month. The first Premier Group Irish Employment Monitor was launched in May 2009 with data from April 2008 onwards.

Monthly new jobs:

Monthly new jobs figures are based on the number of permanent new job vacancies added to Premier Group’s national database in a calendar month. Statistics for the full market are derived using Premier Group’s own market share.

Monthly new candidates:

Monthly new candidate figures are based on the number of professionals who register for employment opportunities with Premier Group during the month. Statistics for the full market are derived using Premier Group’s own market share.

Geography

The data is derived from Premier Group’s network of Irish offices in Cork, Dublin, Kilkenny, Limerick and Waterford.

Premier Group is Ireland's leading recruitment consultancy with offices in Cork, Dublin, Kilkenny, Limerick, and Waterford. Internationally, the Group operates from 24 offices across eight countries. Subsidiary brands within Premier Group in Ireland include Accreate Executive Search & Interim, Brunel, la crème, Premier, and Verkom. Morgan McKinley and iQ selection also form part of the Premier Group outside of Ireland.

www.premiergroup.ie

Premier Group currently publishes a similar monitor in London under its subsidiary brand name, Morgan McKinley. The highly regarded Morgan McKinley London Employment Monitor was launched in 2004 and reports on the new roles, candidates and salaries within the financial services jobs market in London each month. Visit http://www.morganmckinley.co.uk/for details.