The latest edition of the IrishJobs.ie Jobs Index has found that some Irish employers are reining in their hiring efforts, despite a healthy, growing economy.
This could be down to the fact that the final Brexit deadline draws closer but Westminster’s no-deal rhetoric intensifies.
In the second quarter 2019, total job vacancies decreased by 4% year-on-year and by 2% quarter-on-quarter. These reductions have been driven primarily by a group of knowledge-intensive sectors, particularly accounting and finance and banking, financial services, and insurance, which fell by 8% and 15% year-on-year, respectively.
IrishJobs.ie say that while other factors, including virtually full employment and sluggish European markets, are affecting hiring, recruitment has been made more difficult and uncertain by Brexit.
Furtehermore, employers who depend on exports, like the science, pharmaceuticals and food industry, whose job vacancies declined by 1% year-on-year, must factor in the disruption that may be caused by tariffs, border checks and other supply chain disruptions.
However, despite the obvious difficulties of Brexit, the Irish economy is in an overall strong position, underpinned by high consumer expenditure, low unemployment and sustained foreign direct investment.
Commenting on the index, Jane Lorigan of IrishJobs.ie said, "The post-Brexit prospect of manned borders, customs checks, tariffs and supply chain disruptions may be forcing businesses to reroute funding that would otherwise be spent on expansion and job creation to contingency plans and emergency savings. Ireland’s economy continues to grow, supported by a diverse spread of international, export-focused industries. The long-term outlook, overall, remains positive."
She added, "However, as we head deeper into Q3, businesses must prepare for further Brexit bumps and, potentially, by year’s end, fundamental changes to the way we do business, not just with our nearest neighbour, but with customers and clients across the Border."
Source: www.businessworld.ie
