Extremely difficult conditions continue within the Irish professional jobs market

Highlights

• During August 09, the volume of new professional job vacancies in Ireland rose by 5% but remained at the second lowest level recorded this year
• Despite this month on month increase, the number of new jobs fell 72% compared with a year ago (August 08)
• The number of Irish professionals who began their search for a new role during August 09 was down 17% versus the previous month (July 09)
• This figure decreased by 45% compared with the same month the previous year (August 08).

Month-on-month improvement in job numbers but hiring volumes still record second lowest level this year

During August 09, the Irish professional jobs market continued to operate at greatly suppressed levels despite the uplift in new job opportunities from the previous month. The number of new professional job vacancies in Ireland registered an increase of 5% versus July 09 however, this figure was the second lowest recorded so far this year. Additionally, the fifth Premier Group Irish Employment Monitor found that the volume of new professional job openings in Ireland was still 72% lower than it was in August 08.

Ireland’s professionals are still very hesitant to voluntarily enter such a contracted jobs market. It seems that many individuals who are still in employment are choosing to remain where they are for the time being rather than begin searching for a new role. This, coupled with the summer holiday season, contributed to the 17% drop in the number of new professional candidates who entered the jobs market during August 09 versus the previous month (July 09). This figure was 45% less than the number of professionals who began their search for a new role in August 08.

Brian Murphy, Managing Director of Premier Group in Ireland comments: “Despite a month-on-month increase in new professional job numbers in August 09, the hiring market was, and still is, extremely contracted, particularly when compared with a year ago. Now that the holiday season is over, we hope that there will be some improvement in the employment market in the next month. However, there is still little visibility on the short to medium-term professional jobs market in Ireland.

“There are several critical legislative changes on the horizon in September and October which could significantly affect the hiring market in Ireland, for example, the Lisbon referendum and the proposed NAMA legislation. Anecdotal evidence suggests that, over the coming weeks, many employers will be anxiously awaiting the outcome of the referendum and legislation and the implications of these for the Irish employment market.”

Chart: New jobs v. new candidates