According to IrishJobs, companies are cautious about hiring in a number of sectors due to ongoing global tensions.
IrishJobs, a Dublin-based recruitment agency, has released its Q1 Jobs Index revealing a cautious attitude towards hiring in the IT and science sectors.
While there was a 5pc increase in the total number of quarterly job vacancies, Q1 saw no change in job availability in the IT and science professions, indicating a ‘wait and see’ approach by employers.
The index suggests that ongoing global tensions, for example Trump’s tariffs and the continuing trade wars, have created an unstable and unpredictable environment, particularly in science and IT, which often deals with a wide range of pharmaceutical companies and organisations in the life sciences sector.
Regionally, the counties with large cities fared better than those without, with moderate to strong job availability increases in Galway (22pc), Waterford (13pc) and Dublin (3pc). Production operators and engineers were in high demand in Galway during the first quarter and in Waterford there were opportunities for engineers, maintenance technicians and staff nurses.
Commenting on the release of the index, Julius Probst, the European labour market economist at The Stepstone Group and IrishJobs said, “The Irish labour market continues to perform well, with an exceptionally low unemployment rate of 4pc paired with employment gains of about 70,000 throughout 2024. However, beneath the surface some cracks are starting to appear.
“As a small and open economy, Ireland is particularly exposed to global economic conditions. While interest rates are finally coming down, this is mostly due to weak demand in the Eurozone. As global economic uncertainty is reaching a record-high due to the US trade war, international companies are becoming more cautious in their hiring approach.
“The IrishJobs Q1 Jobs Index provides a timely insight into how firms are navigating this shifting environment. It’s clear from the findings that this volatility is already having an impact on hiring plans among employers in internationally traded sectors. There were no changes in quarterly job vacancies among firms in the science and IT sectors, largely made up of multinational firms exposed to potential trade barriers.”
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