An Economic Letter, written collaboratively by Central Bank of Ireland economist Reamonn Lydon and Indeed economist Pawel Adrjan, has been published today and contains new research on the Irish labour market. This Economic Letter uses online job postings and job search data from Indeed’s Irish website to analyse the relationship between labour market tightness and salaries.
The research shows that Record employment levels in Ireland in 2019 are putting upward pressure on wages and salaries as labour demand rises relative to supply. Analysis of online data reveals the skills employers look for, the jobs workers search for and the salaries for different roles – all at a highly granular level.
A new measure of labour market tightness using the number of clicks on a job posting shows that advertised salaries are significantly higher in jobs where the supply of potential workers is low relative to demand.
The Top 20 jobs facing potential labour supply shortages include roles in finance, healthcare and IT. The research develops a new measure of labour market tightness through analysing the number of clicks on a job posting. It found that advertised salaries are significantly higher in jobs that receive fewer clicks, as this indicates that the supply of potential workers is low. In addition, salary growth tends to be higher in occupations where the aggregate number of clicks is low relative to the total number of jobs.
Top 20 job titles by postings per click
Senior Fund Accountant
Senior Mechanical Designer
Senior Agency Manager
Regulatory Reporting Manger
Senior Quality Engineer
Senior Design Engineer
Learning Disability Nurse
Senior Process Engineer
Senior Staff Nurse
Senior .Net Developer
Registered Nurse - Medical / Surgical
Bottom 20 job titles by postings per click
Retail Sales Associate