Irish jobs market records 56pc growth for third quarter

Vacancies grew by 56 per cent in the third quarter of 2020, but are down by 23 per cent on 2019 figures.

The Irish employment market recorded a 56 per cent increase in job vacancies for the period of July to September, according to the latest Q3 Jobs Index from IrishJobs.ie.

Despite all of the uncertainty surrounding Covid-19, a number of Irish sectors experienced year-on-year and quarter-on-quarter growth, with the most resilient sectors being IT (up 83pc), construction and property (up 42pc), engineering and utilities (up 29pc) and pharma (up 26pc).

“2020 has proven to be an extremely challenging and uncertain year for Irish business”

Other sectors to experience relatively small declines in year-on-year terms and strong quarter-on-quarter growth include marketing (up 220pc QoQ), retail and wholesaling (up 102pc), manufacturing and production (up 30pc) and education and childcare (up 147pc).

Unsurprisingly, the Q3 Jobs Index highlighted the challenges facing the tourism and hospitality sector in terms of year-on-year performance, with substantial decreases being recorded. However, as Covid restrictions were gradually lifted in the summer months, the sector recorded strong quarter-on-quarter growth in Q3.

Hotel and catering was up 460pc on Q2 but down 73pc year-on-year, while tourism, travel and airlines are up 75pc quarter-on-quarter but down 90pc year-on-year.

Remote working

As Covid-19 swept across Ireland in March, employers and employees were forced to quickly adapt to working remotely. Tellingly, this trend is reflected in the Q3 Jobs Index location data; remote working roles are up 112pc quarter-on-quarter and 1264pc year-on-year.

“The Budget is expected to build on the strategic goals of the July Stimulus Plan and prioritise job creation and job retention across the board”

Ireland’s four main cities (Dublin, Cork, Limerick and Galway) have all seen strong Q3 growth as the economy has reopened and found a semblance of normality in recent months.

“2020 has proven to be an extremely challenging and uncertain year for Irish business,” said Orla Moran, general manager at IrishJobs.ie

“The impact of the Covid-19 has undermined some industries more than others; hospitality and tourism businesses continue to fight to remain viable and grapple with planning for very uncertain short and long-term futures. Meanwhile, other high value export-led industries including IT, health, pharmaceuticals and engineering have all experienced compelling year-on-year and quarter-on-quarter growth.

“On Tuesday, we will see the Government publish details of its 2021 Budget. The Budget is expected to build on the strategic goals of the July Stimulus Plan and prioritise job creation and job retention across the board. 

“It is hoped that it will get Ireland back on the path to having ‘safe’ national finances again. It is important that the Government recognises the very real challenge facing many indigenous businesses across Ireland and acts swiftly in bringing in new supports that can enable SMEs meet the unenviable task of planning for an uncertain future.”

By Stephen Larkin

Published: 12 October, 2020