Job vacancies exceed pre-pandemic levels
20 July 2021 | 0
Job vacancies in Ireland have exceeded pre-pandemic levels, according to the latest Jobs Index from hiring platform IrishJobs.ie.
The index, which analyses quarterly job vacancy data, reveals that the employment market in Ireland has experienced a resurgence, with overall job postings up 40% on a quarterly basis (Q2 2021 vs Q1 2021).
This marks a year-on-year increase of 157% when compared to the throes of the first Covid lockdown (Q2, 2020).
More meaningfully, the index also shows that the level of job vacancies generated in Q2 this year was 19% higher compared to pre-Covid levels (Q2 2019).
Of the 30 sectors analysed, 21 sectors have posted both quarterly and year-on-year increases in job vacancy creation in the second quarter of the year.
Strong vacancy growth is particularly evident across a range of finance and business support services during this period:
- Accountancy & Finance (+136%, YoY; +43%, QoQ)
- Banking, Financial services & Insurance (+119%, YoY; +82%, QoQ)
- HR & Recruitment (+420%, YoY; +56%, QoQ)
- Marketing (+293%, YoY; +69%, QoQ)
- Secretarial & Admin (+742%, YoY; +83%, QoQ).
According to the data, the Tourism, Travel and Airlines sector (+5680%, YoY; +382%, QoQ)and the Construction, Architecture and Property sector(+146%, YoY; +28%, QoQ) have also shown significant year-on-year and quarterly growth rates, both surpassing pre-Covid levels.
However, the annual and quarterly figures in this instance relate back to periods in which public health restrictions were more stringent on these sectors.
All but two counties experienced a rise in vacancies over the second quarter of the year, with particularly strong growth in county Wicklow (+106%, QoQ).
All counties with major cities, except Limerick, continued their strong performance in the second quarter, with vacancy numbers in each of these counties now above those recorded before Covid-19.
- Dublin (+47%, QoQ)
- Waterford (+44%, QoQ)
- Galway (+40%, QoQ)
- Cork (40%, QoQ).
The only quarterly vacancy decreases have been recorded in Limerick (-14%) and Sligo (-3%).
Work-from-home job vacancies continue their strong rise, increasing by 77% during the second quarter of this year.
Economy in rebound
“An economy in rebound” is demonstrated by the latest index, according to Orla Moran, general manager of IrishJobs.ie.
“What makes this quarter’s figures particularly interesting and so encouraging is the fact that current job vacancies are now higher than pre-Covid vacancy levels,” Moran says.
“Sectors that were especially hard hit by restrictions are recovering quickly, while it is clear from the growth in financial and business support sectors that pent-up demand for talent during lockdown is transforming into active recruitment,” she adds. “This economic rebound is taking hold across the entire country, not just in major cities.”
With many employees now seeking greater flexibility in terms of working from home, “2021 is likely to be a year of mass movement between roles, or what some economists and recruitment professionals are calling the ‘Great Resignation’.
“To stay competitive, employers should objectively assess the factors that make working for them attractive,” Moran advises. “For example, does the organisation have an official remote-work policy? Is its attitude to flexitime too rigid? Is it actively monitoring employee wants and needs? Responsiveness and adaptability will distinguish the employers able to successfully recruit and retain talent in 2021.”
AT A GLANCE: KEY FINDINGS
- Quarterly job vacancies up 40% in Q2 2021
- Year-on-year job postings rise by 157%
- 21 sectors have posted both quarterly and year-on-year increases in job vacancies.
- All but two counties experienced a rise in vacancies in Q2
- Work-from-home job vacancies continue to rise, increasing by 77%