Thursday, May 30, 2024

Irish report indicates balanced figures across jobs market

Must read

Data shows that the sector is stabilising after significant growth during the Covid-19 pandemic.

The Q1 IrishJobs index has revealed that vacancies within the IT industry are down by 8pc, indicating a more balanced outlook for the jobs market compared to the extreme growth seen during and immediately after the pandemic. 

In the first quarter of 2024, the technology sector made up 5.5pc of new job announcements, remaining the market’s largest employer.

As job availability stabilises following post-pandemic hiring surges, vacancy rates are expected to level out also. As it stands, decreases in total job vacancies are 3pc quarter-on-quarter and 28pc year-on-year. 

The education sector has recorded the largest increase in quarter-on-quarter vacancies at 24pc. Additionally, both engineering and science accounted for an 11pc and 6pc increase in vacancies, respectively. 

In comparison to last year’s figures, jobseeker engagement is up by 7pc. The index suggests that this may result in an opportunity for employers to properly address the needs of candidates, as hiring levels slow and more people seek employment. 

According to Sam Dooley, the county director of IrishJobs’ parent company Stepstone Group Ireland, the recent report provides a crucial look at the health of Ireland’s labour market. 

“Against this backdrop of continuing growth, the Q1 index suggests a favourable outlook in the jobs market across a broad range of sectors over the coming months, with the lowest quarter-to-quarter decrease in job vacancies over the past six quarters,” he said.

Remote working levels continued on the downward trajectory observed over the last two quarters, falling by 10pc in the first three months of the year. 

However, this figure too is likely to stabilise in response to the introduction of the Government’s Code of Practice for Employers and Employees Right to Flexible and Remote Working

“In this environment it is crucial that employers continue to evolve their talent offering to meet the changing needs of jobseekers,” said Dooley. “Flexible working structures continue to be one of the top areas prioritised by jobseekers and should be considered within employment packages to ensure employers stand out in a competitive recruitment landscape.”

Find out how emerging tech trends are transforming tomorrow with our new podcast, Future Human: The Series. Listen now on Spotify, on Apple or wherever you get your podcasts.

Latest article