IrishJobs has published the results of its Jobs Index for Q4 2024, revealing that the level of hybrid working vacancies remains unchanged quarter on quarter, an indicator that job candidates continue to hold the balance of power in the talent market.
Findings from the Index show that the proportion of hybrid working vacancies as a share of total vacancies has remained stable at 10.7% for the second successive quarter. Over the past eight quarters, the share of hybrid working vacancies has fluctuated between 12.2% and 10.7%, indicating that the hybrid work model will remain a substantial feature of the Irish labour market.
As we move through the year, tracking this metric will provide important insight into whether candidates continue to hold the balance of power in the talent market throughout 2025. Globally, there are signs of an emerging trend in which large companies and Governments are bringing employees back to the office full-time.
In contrast, the number of fully remote vacancies has fallen by 80.6% since the high recorded in Q3 2022. The share of fully remote vacancies as a proportion of total vacancies was 2.3% in Q4 2024, close to its lowest level since 2019. These findings indicate that fully remote work vacancies will remain stable at a relatively low, near pre-pandemic, level across 2025 and beyond.
Sectoral Trends
The Catering sector (11%), which includes jobs in hospitality, accounted for the largest number of vacancies over the past three months. Management (7%), Customer Service (7%), Health (7%), and Sales (6%) completed the top five sectors that made up the largest number of vacancies.
As construction related activity continues to rise to meet demand for housing and other infrastructure, the construction sector (5.7%) accounted for the sixth largest source of job vacancies, overtaking the IT sector (5%) for the second successive quarter. The Engineering sector generated a similar proportion of job vacancies (5%) as the IT sector, indicating the importance of interrelated sectors in supporting construction activity.
Commenting on the index’s release, Sam Dooley, Country Director of The Stepstone Group Ireland with responsibility for IrishJobs, said: “The latest economic forecast from Ibec shows that the Irish economy will continue to grow in 2025, predicting GDP growth of 1.7% in 2025 and 2.1% in 2026. Employment is forecast to expand at a rate of 2.4% this year and a further 2% in 2026.
The IrishJobs Q4 Jobs Index provides an important insight into shifting labour market trends against this evolving backdrop. There has been much focus on return-to-office mandates by large corporates in Ireland and internationally, and IrishJobs data shows fully remote working continues to fall as an employment offering.
However, our analysis also reveals growing stability in the level of hybrid working vacancies offered by employers in Ireland, indicating this work model is likely to remain a feature of the labour market. However, as we move through the year, it will be interesting to track this metric and see whether candidates continue to hold the balance of power in the talent market throughout 2025.
With unemployment close to record lows and many employers navigating a highly competitive market for talent, incorporating hybrid working can create a more attractive offering for potential talent. IrishJobs research shows that nearly half of jobseekers would be willing to turn down opportunities that do not provide hybrid or fully remote working options.”
Cautious hiring sentiment prevails
The Index reveals a 9% quarterly decrease in the number of new job vacancies created. While forecasted economic growth remains strong for 2025, heightened geopolitical uncertainty and a shifting international trading environment are prompting a cautious hiring sentiment across many industries.
Overall, sectors associated with the domestic economy are more resilient than internationally traded sectors. The Construction (6%), Travel (3%) and Media (17%) sectors posted quarterly increases in job vacancies as support for domestic consumption remains strong. This can be attributed to rising levels of consumption powered by reduced inflationary pressures, low unemployment and cuts in benchmark interest rates.
On the other hand, internationally traded sectors including Manufacturing (-6%) and IT sector (-4%) posted modest decreases in vacancies over the past three months. The relatively mild quarterly declines of these sectors suggest a “wait-and-see” posture in relation to vacancy generation in the short term.
Other internationally traded sectors such as Finance ( -11%) and Science (-17%) have posted significant quarterly vacancy decreases, indicating these sectors may be entering a period of retrenchment.
Regional activity
Findings from the Index show that counties Mayo (22.7%), Kerry (14.5%), and Monaghan (12.1%) posted the highest increase in vacancies over the past three months. In county Mayo, Customer Assistant, Project Engineer and Validation Engineer were some of the most in-demand roles in the quarter. Care workers were the most in-demand role in Kerry in the last three months of 2024.
There were quarterly vacancy decreases across counties with large cities, including Dublin, Cork, Limerick, Galway and Waterford, with the largest fall (-18%) reported in county Waterford.
Dooley continued, “Elevated geopolitical and economic uncertainty, particularly around the emergence of a more protectionist global trading landscape, is triggering a cautious sentiment among many businesses in Ireland. This is clearly reflected in the findings from the IrishJobs Q4 Jobs Index which reveal a 9% fall in job vacancies as many firms take a “wait and see” approach to hiring.
Findings show that quarterly vacancy generation remains strong across sectors associated with the domestic economy including Construction, Travel and Media. It is expected that domestic sectors will continue to be strong generators of new vacancies in 2025 as strong domestic consumption fuelled by slowing inflation, low unemployment and reduced interest rates continues.”
For further information on IrishJobs Q4 2024 Jobs Index, please visit: https://www.IrishJobs.ie/.
