Major drop in job openings as employment boost predicted soon

There was a "significant" drop in job openings in the first three months of the year, but a major employment boost is predicted according to the latest Quarterly Employment Monitor from recruitment firm Morgan McKinley.

The firm stated that there has been a “cautious” start to 2024 in the professional jobs market, as the research showed a 13.8 per cent decrease in job openings compared with the previous quarter, as well as a year-on-year decline of almost 30 per cent.

Morgan McKinley said the reduction in job-seeking activity “reflects broader economic uncertainties and a shift in employment expectations at the beginning of the year”, and points to a more conservative approach marked by a reluctance among professionals to change jobs without secured offers.

The report also reveals that employers are pushing for staff to work more days “onsite”.

There was a fall of over 2 per cent in professional jobseekers in the early months of the year since the end of last year. The year on year drop in their numbers was dramatic – at over 31 per cent.

The research found that ongoing accommodation shortages in Ireland are hindering the recruitment of overseas talent, further complicating the employment landscape.