Vacancies outnumber applicants as travel claims many graduates
THE NUMBER of professional job vacancies is increasing while competition among jobseekers slows.
Professional vacancies were up 9pc in August compared to the same month a year before, while the number of new professional job seekers on the market is down by more than a quarter, according to a survey by Morgan McKinley.
There were 8,527 positions vacant during the month and 8,230 jobseekers, meaning jobs now exceed candidates.
Demand was high in the medical device and pharmaceutical sectors, as well as in financial services and engineering.
"As is widely reported, the ongoing demand for IT talent, such as developers, remains high. The financial services sector shows heightened demand for qualified professionals in regulation, insolvency and restructuring. This is principally attributed to the ongoing readjustment required in the Irish financial market.
"Furthermore, we have seen increased demand for fund candidates as Ireland continues to attract new business" said Morgan McKinley chief operations officer Karen O'Flaherty.
She blamed the shortage of candidates in finance on the fact that graduates are not returning home after travelling overseas.
"Hiring managers within accounting and finance are seeking accountants with one to two years post-qualification experience. Historically, this community of candidates tends to travel following qualification and recent figures have identified that the same level of post-graduate professionals are not returning" said Ms O'Flaherty.
She added that the excess of jobs over candidates had not yet resulted in higher salaries.
"Despite some talent shortages in specific sub-sets of the market, we are yet to see this translate into an increase in remuneration packages being offered. Looking forward to the latter months of 2013, we expect to see increased activity in the jobs market and are cautiously optimistic for the remainder of the year."