The Border region counties of Cavan, Donegal, Leitrim, Monaghan and Sligo are at risk of economic decline even as the broader economy experiences growth in job vacancies, according to the latest edition of the IrishJobs.ie Jobs Index published today.
Counties Cavan, Donegal and Monaghan had the lowest job vacancy rates in the country in the second quarter of this year. In these cases, a low job vacancy rate could indicate that the area lacks the necessary infrastructure for enterprise and/or the skills required to fill vacant positions. In both Cavan and Leitrim, the rate has dropped by almost 15% year-on-year.
National job vacancies in the second quarter grew by 7% year-on-year and by 1% quarter-on-quarter. Job vacancy growth came primarily from urban areas, like Dublin (+6% YoY), Cork (+24% YoY) and Limerick (+32% YoY), but rural counties such as Kerry (+32% YoY) and Meath (+24% YoY) also posted increases.
However, the latter trend is not universal. Job vacancies in the Border county of Cavan dropped by 27% YoY and 29% QoQ. In neighbouring Leitrim, vacancies dropped by 17% YoY and 19% QoQ.
Overall job availability remains high. Hotel and catering jobs dominated vacancies in the second quarter (27% of all vacancies, +11% YoY), demonstrating the immense value of tourism and hospitality to the economy. While this sector typically peaks in the run-up to the summer months, the significant increase compared to the same period last year suggests sustainable growth and value.
The accountancy and finance sector, having declined in 2017, mounted a recovery in the second quarter, making up 6% of all job vacancies (+7% YoY). This may suggest that UK-based companies, facing the increasing likelihood of a ‘hard Brexit’ or ‘no deal’ scenario, are advancing their contingency plans to establish a presence or headquarters in Ireland. This may well be mirrored in other highly skilled industries, like technology.
Commenting on the index, General Manager of IrishJobs.ie, Orla Moran said, "Ireland’s decade-long journey from deep recession to rapid growth is a testament to the benefits of an open economy and a business-friendly government. To maintain this upwards trajectory, and guard against major risks like Brexit, industry and policymakers must work to repair the chinks in Ireland’s armour, namely by ensuring we meet the skills requirements of a modern economy, and by providing the structural prerequisites for enterprise and job creation in regions outside the capital."
Source: www.businessworld.ie
