Dublin likely to see influx of post-Brexit jobseekers

Dublin is likely to see an influx of financial services workers from London from the end of this year as the fallout from June’s Brexit vote starts to influence the Irish jobs market.

Leading recruitment firm Morgan McKinley yesterday said it expects to start seeing a marked increase in interest from UK-based financial workers from the end of this year and early next, along with hiring increases and a rethink of Irish firms’ employment budgets.

It said there is a large demand for compliance, risk and tax experts, and newly qualified accountants.

“We have yet to see any dramatic change in hiring post-Brexit,” said Morgan McKinley Ireland’s chief operations officer, Karen O’Flaherty.

“The outcome of the UK referendum is, however, likely to require a recalibration of hiring forecasts and skillsets for certain employers depending on their sector, size and specialisation.

“Within funds [the fund management sector] the volatility that characterised the sector earlier in the year has subsided with an increase in middle and back-office functions on offer in Dublin post-Brexit. A migration of talent from London to fulfill these roles is expected over the coming months,”

Morgan McKinley’s latest monthly employment monitor, published yesterday, showed a 2% rise in job vacancies in July, when compared to June, but an 8% decline on a year-on-year basis.

Fewer candidates were actively seeking new roles, primarily due to seasonal factors.

Pharmaceuticals, medical devices, and IT were again the most buoyant sectors, followed by financial services. However, concerns remain about the availability of talent, particularly in IT.