‘Cautious optimism’ as more jobs on market

MORE jobs are coming on the market and managers are increasingly confident about their businesses, according to two separate reports.

There was “significant improvement” in how managers feel about the condition and outlook of their businesses in the third quarter of this year, according to the latest IBEC business sentiment survey.

The employers group said an early indication from Government of the scale of the adjustment planned in the budget would help support confidence in the economy.

IBEC senior economist Fergal O’Brien said: “Business managers are no longer negative about the outlook for their own businesses for the next three months, with the index moving from -5 in Q2 to +1 in Q3.”

The current conditions index, which measures the view of managers on conditions in their own business at the time of the survey, also strengthened significantly from -12 in Q2 to a zero balance in Q3.

“The confidence in respondents’ own businesses contrasts with their current view of the wider business environment, which remains negative (-30), albeit somewhat less so than in Q2 (-40),” said Mr O’Brien.

He said the challenge for Government is to address the wider negative perception of the economy, which does not always reflect actual trading conditions.

“Ireland’s exceptionally high savings rate means that an improvement in confidence could yield rapid results in terms of strengthening economic activity. Irish households are currently saving 10% of income compared to a pre-crisis level of about 5%,” said Mr O’Brien.

Meanwhile, the number of new professional jobs coming to the market in Ireland increase by 46% last month compared with the same month last year.

According to a survey by Premier Group, the number of professionals entering the jobs market last month increased by 54% compared to the same month last year.

Brian Murphy, chief executive of Premier Group Ireland said: “While we are a long way from the record levels of new jobs seen during 2007, there is room for cautious optimism that steady progress is being achieved.”


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