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Report: Returning migrants attracted by strong job creation

Wednesday, 22nd August, 2018 4:31pm

This summer the traditional slowdown in the jobs market has been marked absent with the number of professional job vacancies 13 per cent higher in July compared to the same month a year ago.

The number of professional job vacancies available in July 2018 increased by 1.74 per cent nationally since June according to the Morgan McKinley Ireland Employment Monitor.

This is the fifth consecutive month of jobs growth and the highest number of jobs in more than 12 months.

There was also an increase of 5.1 per cent in the number of professionals seeking new roles in July compared to June. According to Morgan McKinley, this is due to demand from returning migrants and Europeans for jobs here. Brexit is another key factor cited.

The monitor recorded a decrease of 9.7 per cent in the number of professionals actively seeking new job opportunities in July 2018, compared to July 2017 which matches a 7.1 per cent year on year drop in numbers on the Live Register.

The most in demand sectors include life sciences, technology and professional services. The rise of driverless cars is also driving demand in the automotive sector.

Morgan McKinley Ireland, Global FDI Director, Trayc Keevans said: “There has been no traditional seasonal slowdown in terms of job creation and growth. There is still a very strong confidence in the marketplace as July was a very healthy month for job announcements. There was also an increase in the number of professionals seeking new roles as the summer months and school holidays have proven a popular time for candidates with families seeking to relocate here, confirming that Ireland continues to be a major lure for returning migrants and foreign talent interested in taking up roles particularly in the tech space.

“Internal relocation within Ireland is beginning to grow as the high value job opportunities in the regions continue to come to market. We’re seeing a lot of talent migrating from across Europe and the UK citing Brexit as a major push factor,” she said.

She said: “There are a lot of positives in terms of what is happening right around the country. Approximately 65 per cent of the publicly announced jobs in July were outside of Dublin. In the early part of the economic recovery, job creation was skewed towards the capital. However, we are starting to see a real shift as regional job creation has grown significantly. The regions are definitely winning in terms of work-life balance and the cost of living.”

Ms Keevans added: “Sectors we’ve seen the most demand for over the past month include life sciences, technology and professional services. STEM continues to offer an increasing number of diverse opportunities, particularly in data analytics. The automotive sector continues to drive demand for machine learning, deep learning, AI and robotics skills as Ireland begins to develop a cluster of employers developing technology for a future of driverless cars.”

“In financial services, there is was broad mix of positions in high demand including treasury professionals of all levels, fund accountants, specifically hedge, payments professionals including operations and compliance and client on-boarding professionals. This demand is partly being driven by companies seeking to implement previously announced Brexit strategies.”

“The professional services firms are continuing to grow with announcements being made across the country to add numbers as demand for services grow. Tax professionals with international tax experience are highly sought after with legal and accounting firms for their growing complex client needs. Global mobility professionals are also required to facilitate the net inward migration trend as professional firms are continuing to support the skills needs of the multinational sector which is coming from mainland Europe, UK and many parts of Asia,” she said.

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