Employers expecting to hire at a record low

THE number of employers expecting to hire over the coming months hit its lowest level ever in January.

The net employment expectations indicator, part of the latest FAS/ESRI employment and vacancies survey, fell by one percentage point to -11% in January.

This, according to the survey indicates that the percentage of employers expecting a fall in employment levels in their firms over the coming months is 11 percentage points higher than that predicting an increase.

The expectations indicator has never fallen below -11% since its creation.

The survey also found that the percentage of firms reporting vacancies in the private sector remained unchanged in January at 14%, down significantly from January last year when it recorded a reading of 20%. Year-on-year the economy-wide vacancy rate has fallen by 6 percentage points.

Elish Kelly of the ESRI said that the results of the survey are in line with the lower growth levels being recording in the overall economy.

“There is a slowdown in the economy and employers are not as optimistic as they have been in previous years.