Economic concerns cause job ads to drop 20% in first quarter
Job vacancies fell 20% in the first three months of the year when compared to the same period in 2022, according to hiring platform IrishJobs.
In comparison to the last three months of last year, the number of job ads was down 6%.
Despite the apparent softening of the market though, the number of vacancies is still up 10% on the level it was at before the Covid-19 pandemic began.
The research also shows the drop in fully remote working vacancies which started in the July to October quarter last year has become more intense in the first three months of 2023, falling 12%.
“The Index also offers the opportunity to analyse distinct sectoral trends and it is interesting to see in this quarter how different sectors are responding to current economic conditions, with some experiencing little or no change while others are posting vacancy declines,” said Sam McIlveen, Managing Director of StepStone Ireland, which owns IrishJobs.
“Nevertheless, while the post-Covid exuberance of 2021 and early 2022 has now run its course, given the high employment rates we’re continuing to see across the economy, the latest figures will do little to ease the recruiting pressures for employers.”
“The imbalance between supply and demand in the Irish labour market looks set to continue.”
Hospitality saw a big resurgence in opportunities, with catering jobs making up 13% of the total ads in the quarter.
The medical professionals and healthcare sector accounted for 9%, followed by jobs in management which made up 8%.
Despite the retrenchment and uncertainty, the tech sector was the fourth largest originator of vacancies, comprising 7% of total job ads and IT jobs are a fifth higher than they were pre-Covid.
IrishJobs said retail, sport and fitness and catering showed signs of normalisation, but sales jobs fell 34% year on year and 22% compared to the previous quarter, while manufacturing ads dropped 35% and 10% respectively.
The data also shows that employers in Dublin and Cork are those offering the bulk of the fully remote working vacancies.
This suggests homeworking in Ireland is strongly driven by the pressures of commuting into large cities, IrishJobs said.
“Although fully remote roles are on the decline, flexibility and work-life balance are still top of the average jobseeker’s agenda,” said Mr McIlveen.
“As well as ensuring their job descriptions are accurate, up-to-date and transparent, employers should continue to offer these benefits to potential employees in order to ensure they stand out in a more competitive recruitment market and can meet the evolving needs of prospective candidates within their field.”