Irish Employment Monitor - September 2011

Highlights

• The Morgan McKinley Irish Employment Monitor registered a slight decrease of 3% month-on-month in available professional job opportunities in September 11
• There was however a 12% rise in professional job vacancies compared to the same month last year
• Q3 11 overall saw an 8% decrease in professional job opportunities compared to Q2 11
• The number of professionals entering the jobs market in September 11 dropped by 8% from August 11
• Compared to September 10, there were 23% fewer professionals looking for new roles in this month.

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 cautious 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.”

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        Notes to editors

Further press information:
Tim Kinsella, MKC Communications, Tel: 086 813 7512, Email: www.lacreme.ie

About the Morgan McKinley Irish Employment Monitor

The Morgan McKinley Irish Employment Monitor (previously known as 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.
 
Statistical methodology

Monthly new jobs and new candidates:
Monthly new jobs and new candidate figures are based on Premier Group’s own monthly records of new permanent job vacancies and new candidates registering with the firm for permanent employment. Statistics for the full market are derived using Premier Group’s own market share.

Job classification:
Job vacancies are professional level roles within the following sectors and functions: banking & financial services, commerce & industry finance, insurance, public practice & tax, legal, HR, IT, life sciences, engineering, process & manufacturing, professional services, sales & marketing, customer service, secretarial & office support.

Geography:
The data is based on new job vacancies and new candidates registered with Premier Group’s network of Irish offices in Cork, Dublin, Kilkenny, Limerick and Waterford.

About Morgan McKinley in Ireland

Morgan McKinley is an Irish owned global professional recruitment consultancy connecting specialist talent with leading employers across multiple industries and disciplines.

With offices across Ireland, the UK, Europe, the Middle East and Asia-Pacific, its professional recruitment expertise spans the Accounting and Finance, Financial Services, Technical and IT sectors. Morgan McKinley is a preferred supplier to many of the major employers in its specialist sectors and thousands of smaller local firms.

Morgan McKinley recently ranked 7th in the Irish Independent’s listing of Best SME Workplaces in Ireland and was also named in the 50 Best Small and Medium Workplaces in Europe by the Great Places to Work Institute. We are also proud to be ranked in Deloitte’s Top 20 Best Managed Companies in Ireland for 2011.

Morgan McKinley London Employment Monitor

Morgan McKinley currently publishes a similar Employment Monitor in London. It was launched in 2004 and reports on the new roles, candidates and salaries within the financial services jobs market in London each month. Visit www.morganmckinley.co.uk.

About Premier Group

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 10 countries. The specialist recruitment brands within Premier Group are Morgan McKinley, la crème and Accreate. Visit www.premiergroup.ie.