Irish job market suffered little fallout from tech slowdown, according to new report
Morgan McKinley reports that the number of people seeking jobs in March was the highest number in 18 months. Stock picture: Gareth Chaney/Collins
There has been little fallout for Irish tech jobs from the global slowdown hitting multinationals in recent months, a survey by recruitment firm has found.
The Morgan McKinley Employment Monitor showed Ireland’s job market remains largely unchanged despite recent mass layoffs by Big Tech companies, which ballooned in headcount during the pandemic and needed to become leaner to cope with various new economic challenges.
"The Irish job market has remained resilient despite recent layoffs in the technology sector,” said Trayc Keevans, global FDI director at Morgan McKinley Ireland.
"Although the number of professional job vacancies has remained relatively stable, we have seen an increase in demand for certain skills, particularly in engineering, life sciences, and construction sectors."
There has been no significant change in the number of professional jobs coming to market in Q1 compared to the same quarter last year, decreasing marginally by 0.15%, the survey showed.
However, the number of jobs on offer this quarter has almost doubled since the end of the December quarter, the survey highlighted.
The number of people looking for jobs spiked in March to the highest monthly level over an 18 month period, representing a 16% sequential increase from February 2023 and a 40% annual increase.
The biggest growth in job opportunities quarter on quarter was in the construction sector, the report showed.
Last month, builders saw a growth in new orders, which led to companies adding to their workforce, according to a a separate survey by BNP Paribas Real Estate Ireland.
Meanwhile, the Employment Monitor also showed professional service firms cooled hiring senior professional talent in Q1.
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