Employment opportunities expected to grow 8% this year

Kenneth Fox

Growth in employment opportunities are forecasted to reach 8 per cent over the coming year, while upward pressure on salaries is also expected to continue.

Analysis by FRS recruitment found the firm advertised a total of 88,964 opportunities last year, and they anticipate particularly strong demand for accounting, insurance, engineering, science, construction, cybersecurity and social care personnel in 2024.

The firm’s 2023 Review & 2024 Trend Forecast report found there was also a strong level of response to the openings that came on the market last year, with a 32 per cent rise in the average number of applications received per opportunity.

However, on a regional level, 20 of the 26 counties experienced a decline in job opportunities in 2023.

The number of roles fell in all the main urban areas, including Dublin (down 24 per cent), Cork (down 19 per cent), Galway (down 18 per cent) and Limerick (down 20 per cent).

The largest decline was noted in Monaghan, where job opportunities fell 51 per cent in 2023.

In contrast, there was significant growth in activity in the north-west, with the largest county-by-county increases occurring in Donegal (up 43 per cent), Leitrim (up 40 per cent), Mayo (up 36 per cent) and Sligo (up 13 per cent).

Increases were also seen in Tipperary and Wicklow.

Recruitment

Despite difficulties in the overall recruitment market last year, FRS said it expects increased job opportunities over the coming year will be positively felt throughout the country.

Speaking about the report, Lynne McCormack, general manager with FRS Recruitment said: "If 2023 was a year of turbulence in the recruitment market, we are anticipating a steady rise in opportunities for the year ahead.

"We are already seeing green shoots of recruitment appear across multiple sectors, several of which experienced a challenging 12 months."

Despite a "jittery" start to 2023, which included job losses at several tech firms, Mr McCormack noted the market recovered in the third quarter, "and was firing strongly again by the end of the year".

"The signs point to that approach continuing into 2024. The market is already showing significant need for skilled personnel in several sectors.

"Employers are actively seeking out individuals with qualifications and experience in accounting, insurance, science, engineering, cybersecurity, social care and construction," she added.