60% increase in professional job vacancies

THERE has been a 60% increase in new professional job vacancies in the last year, according to the latest Morgan Stanley Irish Employment Monitor.

In April 2010, there were just 5,335 job opportunities available for professionals. A year later that number had leapt to 8,533.

The recruitment consultancy found that as a result there had been a 45% decrease in the number of professionals looking for jobs in April 2011 compared to a year earlier — from 11,580 to 6,375.

In spite of the optimistic figures, the survey found that employers were maintaining a cautious approach to business growth and hiring new staff.

That was evidenced by a small drop (0.2%) in the number of opportunities advertised between March and April of this year.

Karen O’Flaherty, chief operations officer of Premier Group Ireland, said: “The volume of new professional job opportunities was relatively unchanged month-on-month in April 11. This indicates a more cautious approach to business growth and therefore hiring.

“This is likely to be a reaction to negative growth forecasts for the second quarter of 2011, with job creation remaining particularly subdued in the financial services and SME sectors,” she said.

“There was, however, a significant jump in new professional job opportunities compared to the same time last year, although this rate of growth was down on March 11’s year-on-year increase of 75%.”

Ms O’Flaherty said multinational corporations are still the main drivers of growth in the professional jobs market as demand for Irish exports accelerates.

She pointed to a report from the Central Statistics Office showing exports stood at their highest level in almost a decade in February 2011 and contributed more than €8 billion to the Irish economy during that month.

“April 11 saw an 18% month-on-month decrease in the number of new professional job seekers. This can largely be attributed to reduced momentum in the job market in the second half of the month, when many candidates and decision makers took leave over the Easter period,” she said.

“Many newly qualified accountants sought career moves in April at the conclusion of their practice contracts, resulting in increased competition for roles at this level in industry. An increased number of these individuals are considering opportunities in Britain or further afield, where there is greater demand for skilled accountants and interesting opportunities, particularly in the financial services sector.

“However, with the increasing number of multinationals establishing operations in Ireland, we hope to see many of these accountants bringing their international experience home in the near future.”