Workforce set to top two million

A new survey – carried out by a Galway-based recruitment company – has predicted that the number of people in work will exceed two million by the end of the year.

The current unemployment rate stands at 7.8 per cent – down from 9.8 per cent in just twelve months – and Collins McNicholas, sees that trend continuing.

But in its Quarterly Jobs Market analysis, the recruitment specialists headquartered in Galway believe it could now be at a slower pace as the consequences of Brexit on the Irish economy is still uncertain.

A weakening sterling will hurt Irish exports to Britain, particularly in the agricultural sector.

Tourism will also be affected as British holidaymakers will find it more expensive to visit Ireland, the report warns.

“However, despite the uncertain consequences of Brexit on the Irish economy, foreign direct investment (FDI) is strong and should grow as investors seek to maintain access to the EU markets and avoid the uncertainty over Britain’s status post-Brexit,” said Niall Murray, Managing Director of Collins McNicholas.

The company’s data also shows that domestic demand is steady and growing and high-technology sectors —in particular ICT, biopharmaceuticals and medical devices— are doing well.

Jobseekers with skills in software development, quality or process engineering, or lab analysts will continue to be in strong demand over the next twelve to eighteen months, according to the report.

Graduate output has increased significantly in the STEM (science, technology, engineering, maths) subjects and, according to the company, excellent progress has been made in retraining people for jobs in these sectors.

“Springboard alone provided 41 ICT courses in 2015 and will provide 1,800 places in its new selection of ICT courses beginning in September,” said Mr Murray.

Ireland is also an attractive option for some of the brightest international tech talent. “The recent launch of the Tech/Life Ireland initiative, aimed at attracting 3,000 top tech professionals to Ireland per annum, is an example of the creativity and resourcefulness employed to grow the tech industry in Ireland,” said Mr Murray.