What does a recovering economy mean for Jobseekers?

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Over the last 12 months, the news on the Irish economy has been increasingly positive. The economy moved into a state of recovery last year, and has continued to grow with vigour in 2014 causing unemployment figures to drop to their lowest since 2009. Ireland was also named Forbes Best Country to invest in last year for a variety site of reasons including; our readily available and skilled labour force, low corporate tax, labour productivity and quality of education.

Each of these factors has had steady and sustainable improvements indicating that this economic growth is also sustainable. Forjobseekers, this is a very promising time.

What this means for jobseekers?

  1. The large multinational companies settling in Ireland are seeking, and will continue to seek, graduates in the developing sectors of finance, pharmaceuticals, technology, and industrial automation, amongst several others. The IMD world Competitiveness Yearbook of 2013 placed Ireland 6th for higher education achievement (those who have obtained at least tertiary education) meaning a large section of our population are in the right position for seeking jobs in such industries.
  2. The increase in large companies settling is also causing indirect employment on a significant scale. Smaller companies are starting up and growing to provide services to the multinationals. The improving economy has led to a rise in customer service and sales jobs. The Forfás report found that this sector had the highest share of vacancies with no minimal educational or experience requirements.
  3. The growth in industry does, however, mean a more competitive job market. Multinational corporations are seeking graduates with foreign language skills, experience in their sector and an international outlook, according to the Forfás 2014 vacancy report. Despite the vastness of this talent pool in Ireland, employers have found it difficult to find suitable candidates for their vacancies.

As the opportunities available continue to grow, the challenge will be to match your skills and experience with the roles available, and to identify upskilling and retraining opportunities. Recruitment agencies offer valuable support in this area, as well as offering access to roles that may otherwise be beyond reach.

The economy is moving in the right direction, Ireland’s reputation as a talent centre is strong and the recruitment market is starting to see the benefits. Now is the time for the proactive jobseeker to take advantage.