The number of professional job vacancies available in May 2017 increased by 15% nationally compared to April, according to the Morgan McKinley Ireland Employment monitor.
There was an increase of 16% in the number of professionals seeking new roles in May compared to April 2017 and 6% growth when compared to the same time a year ago. This reflects an upswing following the Easter break and the continuing drop in Ireland’s unemployment rate. It supports estimates that the jobless rate could dip below 6% by the end of this year.
According to Morgan McKinley’s Operations Director, Bryan Hyland, “This month’s figures are indicative of a very active month following a flat period, so we expect this type of uplift. While it’s too early to say if this is a trend that will continue, if it does then it will support estimates that Ireland’s unemployment rate could dip below 6% by the end of the year.
“The General Data Protection Regulation (GDPR), which comes into effect in May 2018, will have an impact on the way in which businesses process and store the personal data of EU citizens. Many businesses, especially SME organisations, are concerned as to how exactly this new regulation will affect their business. Apart from the financial services sector, we would be concerned that some businesses are leaving themselves exposed with no great urgency to recruit professionals to ensure compliance in this area and we would encourage them to inform themselves of their obligations under the new law.
“Recruitment in the aircraft leasing and investment management space continues to grow. This is hardly surprising as more than half of the world’s leased aircraft are owned and managed from Ireland. From a recruitment perspective, we believe there will be more opportunities for candidates working in the financial services sector specialising in this area, with companies looking to improve their overall compensation and benefits packages to attract and retain the best candidates in this sector.”