The latest Jobs Index from Irish Jobs for the last three months has shown that for the first time since Q2 2022, the total number of job vacancies in Ireland has remained stable quarter-on-quarter (Q-o-Q) over the past three months, marking a positive shift in the job market.
This stability comes after a period of consistent declines and indicates growing confidence within the domestic economy. Notably, 19 sectors have reported Q-o-Q increases in job vacancies, underscoring this upward trend.
Job Growth Moderation and Yearly Decline
Despite the positive quarterly performance, job growth continues to moderate on an annual basis. A 25% decrease in job vacancies was recorded Year-on-Year (Y-o-Y) in Q2, reflecting a more cautious approach following recent hiring surges.
Domestic vs. International Sector Performance
The 19 sectors showing Q-o-Q vacancy increases were primarily domestic. Sectors such as Catering (16%), Skilled Trades (10%), Health (5%), Retail (7%), Property (1%), and Logistics (1%) exhibited notable growth. This domestic boost is attributed to rising wages, a robust labour market, and easing inflationary pressures.
In contrast, export-led and multinational sectors experienced declines in vacancy generation. Manufacturing (-9%) and Science (-8%) sectors showed reduced hiring activity, influenced by subdued global economic conditions.
Sectoral Trends
The broad range of sectors posting Q-o-Q vacancy increases indicates a stabilizing job market. Catering led with a 12% increase in vacancies, followed by Health (9%), Management (7%), and Customer Services (6%).
IT Sector Insights
The IT sector remains a significant source of job vacancies, contributing 5.24% of all Q2 postings. While the sector experienced a modest -2% Q-o-Q decline, roles such as automation engineers, software engineers, and security engineers continue to be in high demand.
Construction and Skilled Trades
Despite a -4% Q-o-Q decline, the construction sector remains a vital source of job vacancies, accounting for 4.76% of postings. The surge in home-building projects has maintained high demand for skilled labor, particularly for roles like Quantity Surveyors and Construction Project Managers. The skilled trades sector saw a 10% Q-o-Q increase, highlighting the ongoing need for diverse skills in housing and infrastructure projects.
Health Sector Demand
The health sector recorded a 5% Q-o-Q increase in vacancies. The recent lifting of the HSE recruitment embargo is expected to further drive demand for health professionals. Roles such as Staff Nurses, Clinical Nurse Managers, and Speech & Language Therapists were highly sought after.
Decline in Fully Remote Working
Continuing a trend from the past three quarters, fully remote job vacancies decreased by 23% in Q2, faster than overall vacancy reductions. The proportion of remote job postings has dropped to 2.2%, down from a peak of 3.3% in Q3 2023, indicating a decline in fully remote work opportunities in 2024.
Bronagh Cotter, CEO of Recruit.ie, commented on the latest job market trends: “The stability in quarterly job vacancies is a positive indicator for the Irish economy, reflecting a renewed confidence among employers. However, the annual decline in vacancies highlights the ongoing challenges in balancing domestic and international sector performance. Our focus remains on supporting businesses in navigating these complexities and leveraging new opportunities for growth and talent acquisition.”
Discover Your Dream Job on Recruit.ie! It’s easy – just sign up, upload your CV and cover letter, and start applying. Your next career move is a few clicks away!
Take a look at upcoming Jobs Expos around the country