The number of job vacancies in Ireland rose by 4% in the third quarter of 2018, when compared to the same period last year, according to data from Irishjobs.ie.

The data found that the accountancy and finance industries recorded a 15% year-on-year increase in job vacancies, while construction and property recorded an 8% increase.

On a geographical level, every county in the Republic of Ireland with the exception of three recorded a year-on-year increase in job vacancies in Q3 2018.

In Dublin, vacancies increased by 19%, in Cork by 5%, and in Limerick by 2%; in rural counties, like Monaghan and Longford, vacancies increased 49% and 18%.

Irishjobs stated that on the one hand, more job vacancies indicate that Ireland’s economy remains on an upwards trend. Businesses are confident, investing in growth, and in doing so, creating jobs. However it stated that a problem arises if these vacancies are not filled.  This can be a short-term issue, particularly if an area is the recipient of new, rapid investment and growing faster than vacancies can be filled.

“Ireland is approaching full employment,” Orla Moran, General Manager, IrishJobs.ie, said. “While a welcome change from the jobs market of ten years ago, this situation poses its own challenges. The labour market is tight and businesses are in a ferocious competition over talent. There is only so much to go around.”

“There are two main solutions to this. The first is to ensure that Irish workers have access to training in skills demanded by a high-tech, globalised economy. This requires investment from the State and from private industry. Second- and third-level institutions must develop skillsets that are relevant, adaptable and transferable,” Moran said.

 “The second is to make it easier for companies to import overseas talent to plug long-lasting or urgent gaps, potentially through some sort of visa waiver programme if this talent is outside the EU,” Moran said. When there is no way to fill vacant roles in Ireland, employers will need to look further afield to find the right talent and the process for filling these gaps with international candidates should be made as quick and simple as possible.”

“Ireland is in a strong position. Economically, we are performing well in virtually every sector, especially in high-tech, highly skilled industries. However, two barriers remain: Brexit, which we can only prepare for, and the talent gap, which policymakers and entrepreneurs must tackle together,” Moran said.

Ireland’s unemployment rate stood at 5.4% in September, according to data from Eurostat.