Monday, November 18, 2024

Number of Irish job vacancies stabilised in second quarter

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This was the first time quarterly vacancies have not declined since the second quarter of 2022.

Overall, jobs growth continues to stabilise from the jump in hiring in recent years.

IrishJobs reported that there was a 25pc fall in job vacancies in the period compared with the same time last year.

The report also showed that 19 sectors recorded a rise in vacancies across the quarter.

The sectors that recorded a quarterly increase in vacancies were primarily in the domestic economy, according to the hiring platform. This included a 16pc growth in catering roles, as well as a 10pc jump in vacancies in the area of skilled trades.

There were also a 5pc rise in health vacancies, as well as a 7pc rise in retail vacancies.

IrishJobs attributed the growth to rising wages, a strong Irish ­labour market and the easing of inflation.

A decrease in vacancy generation was also recorded in both indigenous exports and multinational firms based in Ireland.

The manufacturing sector recorded a 9pc fall in vacancies, while vacancies in science positions dropped 8pc. This was driven by “subdued” global economic conditions, IrishJobs said.

The IT sector recorded vacancies of 5.24pc in the second quarter of 2024, one of the largest sources of job vacancies in Ireland in the period.

The level of vacancies was down 2pc over the three-month period.

IrishJobs pointed to a “rebalancing” of the sector following extreme pandemic growth and consequent slowdown.

The most in-demand roles in the sector over the quarter were automation engineers, software engineers and security engineers.

The number of remote roles plummeted 23pc in the second quarter of this year, with the rate of decline “substantially faster” than that of overall vacancies.

The report attributed this slowdown to an overall reduction of working from home in Ireland.

“The IrishJobs Q2 Jobs Index reveals that the jobs market is on a positive and steady trajectory following a period of significant volatility,” Sam Dooley, country director of the Stepstone Group Ireland, IrishJobs’ parent firm, said.

“Quarterly vacancies have not fallen for the first time in eight successive quarters, indicating the end of a cycle of heightened volatility in the jobs market.”

Mr Dooley said that greater stability in vacancy rates is expected over the coming months.

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