Sharp fall in professional job vacancies in 2023

There was a 15.4pc decrease in employment opportunities across all professional sectors during the second quarter of 2023 compared to the first three months, according to the latest Morgan McKinley Quarterly Employment Monitor.

The Morgan McKinley employment monitor tracks the number of new candidates and new job vacancies in the Irish professional jobs market each quarter.

Latest unemployment figures from the CSO show the rate has risen slightly to 4.2% for males from a rate of 4.1% in May 2023 and June 2022.

There has been a 43pc decline in construction jobs between April and June, the report finds, while the accountancy and finance sector experienced a 17.3pc drop compared to the previous three months.

Global FDI Director with Morgan McKinley Ireland Trayc Keevans said various sectors experienced a decrease in employment opportunities during the second quarter of the year.

"The technology sector has shown some resilience with single-digit declines in professional job opportunities, down 7.8%, and an 11% growth in contract opportunities," Ms Keevans said.

"More notably there was a 43% decrease in construction opportunities coming to market for this period due to the long lag time in filling prior positions due to the shortage of skills and difficulty in bringing overseas talent into the market to bridge the gap due to challenges in securing housing," she added.

However, some sectors continue to experience growth such as life sciences, engineering and financial services.