Job vacancy levels increase by 44%

IRISH job vacancy levels increased by 44% – on a year-on-year basis – in October, but fell by 6% when measured against September’s levels, according to a new report.

Despite the monthly decline, the latest edition of the Morgan McKinley Irish Employment Monitor showed that October still ranks as the second highest monthly figure – with 6,244 new jobs coming on stream – recorded in two years.

“We saw reasonable hiring activity in most sectors in October, with multinationals providing the bulk of the new opportunities being created.

“Recruitment levels in the IT and pharmaceutical sectors, in particular, held up well throughout the month as did activity in the financial services sector,” according to Brian Murphy, chief executive of Morgan McKinley’s parent, Premier Group Ireland.

The number of vacant jobs stood at 4,333 in October 2009, with that figure rising to 6,244 last month.

However, in September of this year, the figure stood at 6,674.

Demand has also fallen, in line with supply.

The number of people looking for jobs fell by 1% in October, when measured on a year-on- year basis.

But, the drop-off between September and October, this year, amounted to 16%, with 2,000 less people (11,115) actively seeking employment last month than in the preceding 30-day period.

The large month-on- month decline in job seekers, however, was heavily skewed by the fact that September represented a seasonally high number.

Mr Murphy warned that the number of new vacancies coming on stream this year may be positive, but the numbers are still well short of those experienced three years ago and the current challenges and uncertainties facing the Irish economy are testing client confidence.

“That said,” he added, “the positive trend – particularly within multinational organisations – is encouraging and instilling cautious optimism amongst professionals.”