Job vacancy growth stalls for second consecutive quarter

Job vacancy growth stalls for second consecutive quarter

New vacancies in the Irish job market have stalled for the second consecutive quarter, according to the latest edition of the IrishJobs.ie Jobs Index.

The third quarter 2019 report, which analyses the number and type of job vacancies listed on Jobs.ie and IrishJobs.ie in July, August, and September, shows that overall job vacancies declined by -8% year-on-year and by -5% quarter-on-quarter.

The Jobs Index also shows consistent vacancy decreases across key industries. Science, pharmaceuticals, and food vacancies decreased by -24% year-on-year; medical professionals and healthcare vacancies decreased by -18%; and banking, financial, services, and insurance vacancies decreased by -1%.

Although the Irish economy is fundamentally strong and diversified, Irishjobs.ie believe that certain political and economic factors, like Brexit and the performance of EU markets, are having detrimental effects on the jobs market here.

Commenting on the figures, Jane Lorigan of IrishJobs.ie said, "The longer uncertainty surrounds the UK’s future trading relationship with the EU and, by extension, Ireland, businesses and consumers will continue to delay important investments. This restricts the funding necessary to create new jobs, especially in the Border region. The Irish jobs market, while built on a strong, diversified foundation, appears to be plateauing after years of post-crash growth. This has not been helped by the cooling of trade relationships with the UK and, to some degree, the United States as it follows its hardline stance on tariffs. EU markets remain sluggish, with Germany, the biggest, on the brink of recession."

She concluded, "To this end, we anticipate caution to be the prevailing mood among employers as we enter the new year."

Source: www.businessworld.ie