Collins McNicholas, one of Ireland’s largest recruitment and HR services company, has recorded a 20% growth in job vacancies registered with the company in the first three months of 2016.
This job growth has been consistent over the past three years, according to the company’s Quarterly Jobs Market Report.
This strong increase in the jobs market is proof of further recovery in the Irish economy, according to Antoinette O’Flaherty, Director of Collins McNicholas, based in Sligo.
The number of candidates registering with the company has also increased – by 26% – in the first quarter of 2016 compared to the last quarter of 2015.
“This is further evidence of positivity in the job market as confidence builds amongst jobseekers. We can now be cautiously optimistic about an Irish recovery,” said Ms O’Flaherty.
Ireland’s unemployment rate currently stands at 8.6%, having fallen steadily from 9.8% over the last 12 months. This is anticipated to fall further throughout 2016 and into 2017, with most institutions estimating that the rate of job creation will slow but that unemployment should fall below 8% by the end of the year.
Ms O’Flaherty added that the Irish economy continues to grow and job creation should rise in tandem but warned that volatility in the global economy, and the potential repercussions from the ‘Brexit’ vote in June, could all impact the Irish economy.
The company’s data shows that jobseekers with skills in engineering are in high demand as the economy improves, particularly quality, process and chemical engineers, including lab analysts, software developers and data analysts.
The medical technology, biopharmaceutical, pharmaceutical and software sectors are performing particularly well, according to the research by Collins McNicholas, which assists some of Ireland’s leading employers to recruit and develop talent.
The data also shows that the recovery is no longer isolated to Dublin, with other large urban areas, including Galway, Cork and Limerick, doing much better over the last 12 months.
Commenting on trends in the Irish labour market, Ms O’Flaherty added: “With an expanding graduate pool, particularly in the STEM (science, technology, engineering and maths) areas, we expect that the country will continue to attract new foreign direct investment and also ensure that the existing multinationals have a strong talent pipeline into the future.
“Demand for software, medical devices, multilingual and biopharma skills are in particularly high demand right now. Talent availability will ensure Ireland continues to attract foreign direct investment, which will be essential to our long term growth.”