Cpl’s Employment Market Monitor today showed the 11th continued quarter of year-on-year jobs growth in sectors which largely represent the FDI sector.
However, the report also shows an apparent slow-down in jobs listed in the last quarter (Q3). This is the most pronounced slowdown in two years and possibly indicates a softening of labour market conditions coming into Autumn.
Since the reports base year, 2011, starting at 100, there has been a steady increase in the number of jobs posted. The average level of the Cpl Jobs Index during the third quarter of 2014 was 188 compared to 170 in the same three months of 2013. Jobs postings in science, engineering and supply chain are still surging ahead, with levels roughly three times the 2011 level. There was a fall in year-on year postings in the IT sector, which is the first since the report began in 2012.
Employers were very optimistic for the coming 12 months with 80% expecting to recruit and 53% planning to expand their operations.
Uptake in Government initiatives is impressive with 1/3 of responding employers saying that they had used these to hire staff. JobBridge was the most cited initiative.
“Overall, Ireland’s employment market continues on its upward trajectory within the high-value, highly-skilled sectors. However, while a slowdown in one quarter doesn’t make a trend, the Q3 slowdown in jobs postings is worth noting for comparison to future reports,” said Peter Cosgrove, director, Cpl Resources Plc.
“1/3 employers have embraced the government initiatives such as JobBridge or JobsPlus which offer the employee training and experience and make hiring more affordable for employers,” he added.
“Despite some negativity towards government schemes, our report shows they are becoming a vital part of enabling businesses to expand while providing valuable retraining for candidates from sectors which are diminishing or falling away” he concluded.