‘Significant’ drop in job openings in first quarter

There was a “significant” drop in job openings in the first quarter of the year, according to the latest Quarterly Employment Monitor from recruitment firm Morgan McKinley.

The research showed a 13.8% decrease in job openings compared with the previous quarter and a year-on-year decline of 29.6%.

The first quarter of the year saw a 2.4% decrease in professional job seekers compared to the fourth quarter of 2023 with an on-year drop of 31.3%.

Morgan McKinley said the reduction in job-seeking activity points to a more conservative approach marked by a reluctance among professionals to change jobs without secured offers.

The report found that overall, salaries have remained stable across various sectors, but there are exceptions in areas experiencing talent shortages, such as quantity surveyors, tax professionals, pension specialists, and cybersecurity experts.

The study also highlights a notable trend across all industries of the increasing requirement for onsite work, especially impacting technology professionals accustomed to more flexible arrangements before the pandemic, now facing minimum onsite requirements.

The research found that ongoing accommodation shortages in Ireland are continuing to hinder the hiring and integration of overseas talent, further complicating the employment landscape.

“The technology sector has seen a significant uptick in demand for permanent jobs due to the initiation of long-term digital transformation projects, mainly in Dublin,” Morgan McKinley Global FDI Director Trayc Keevans said.

“This demand is anticipated to extend to contract positions as initial project phases conclude. However, the market for daily contractors has fluctuated, initially decreasing due to cost-cutting measures but showing signs of recovery as the quarter ended,” Ms Keevans said.