Job vacancies decreased 11% year-on-year and 13% quarter-on-quarter in the final three months of 2022, the latest IrishJobs.ie quarterly jobs index shows.
The volume of job vacancies during the fourth quarter was, however, up by more than a quarter (28%) on pre-Covid levels, and the jobs site expects that the recruitment landscape will remain "competitive" into 2023.
“Ireland’s job market enters 2023 in a strong position with the number of job vacancies in Ireland overall almost a third higher than pre-pandemic levels. The adjustment in the market that we saw begin in Q3 continued into Q4," said Orla Moran, general manager of IrishJobs.ie.
"However, it’s worth pointing out that the final quarter of every year would traditionally be a time when recruitment activity eases back. The high number of jobs available combined with the current 20-year low in unemployment means the competitive recruitment landscape is set to continue in the year ahead.”
Of the 39 sectors monitored, just four posted increases in job vacancies on both an annual and quarterly basis - security (+73% year-on-year), customer services (+18%), media (+7%), and health (+5%).
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Five sectors have seen job listings increase in the past 12 months but fall in the past quarter, including insurance (+55%, -11%), construction (+10%, -5%), legal (+8%,-6%).
Sectors closely aligned with the fortunes of the domestic economy and suffering with rising energy costs have registered both annual and quarterly declines in vacancies, such as travel (-42%, -32%), arts & entertainment (-36%, 25%), retail (-32%, -14%), and catering (both -28%).
Similarly sectors with a strong multinational presence recorded minor falls, reflective of a cautious outlook - banking (-8%, 10%), accounting (-5%, -18%), finance (-1%, -20%), and science (-4%, -6%).
Overall, the catering sector accounted for 13% of job vacancies in the fourth quarter, ahead of the medical professionals & healthcare sector (11%), management occupational group (8%), and IT (7%).
With regards to location, 21 counties experienced posted both year-on-year and quarter-on-quarter declines in vacancies, while five countries saw modest increases. The largest gains were seen in Cork (+30%, +10%), Offaly (+19%, +7%) and Roscommon (+18%, +7%).
Q4 was the second successive quarter in which the number of vacancies for remote working positions declined, falling 20% in the final three months of the year compared to 7% in Q3, but the level of remote jobs remains higher than pre-Covid levels, even as they are declining.
"The data from this latest Index shows us that the demand for skilled and experienced staff is not likely to end any time soon," said Moran. "The ESRI is predicting that unemployment will remain under 5% for the next twelve months, and with such high levels of employment across all sectors, employers will need to look at their talent attraction strategies if they’re to entice people to change jobs against an uncertain economic outlook.
“In order to achieve this, employers will need to be flexible about meeting the demands of jobseekers. This includes understanding that salary is just part of an overall package that jobseekers are looking for. Other areas include the need for a dynamic company culture, flexible working environment and employee wellbeing offerings, on top of a seamless recruitment journey for the candidate.
"These will be key to helping employers to stand out in a highly competitive recruitment market. While some economic uncertainties will remain in the coming months, we do know that employers will need to move fast in this jobs market to secure the best people – a trend that is set to continue for the year ahead.”
