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Ireland – Jobs Index holds steady in Q3; Brexit may be casting shadow on market

17 October 2017

The Cpl Jobs Index measure of annual changes in job listing was unchanged in the third quarter from the second-quarter’s reading of 95.8. The reading for the first quarter was a record at 115.0. 

Ireland-based recruitment firm Cpl Resources released the index on Friday. It covers jobs in four categories:  IT & telecoms; science, engineering & supply chain; sales & marketing; and accountancy, finance & banking. 

“This marks the second quarter without growth in jobs listing,” said Ronan Lyons, assistant professor of economics at Trinity College Dublin, said in a statement on the report. 

“While the summer lull may have had an effect, the sectoral pattern also suggests Brexit may be casting a shadow on the jobs market,” Lyons said. “In particular, while the three main other sectors covered saw listing shrink, financial services saw further growth. This may be a preview of things to come, if the Irish economy is subjected to a hard Brexit.” 

The report also included a survey of 229 employers on other topics and found that 40% of employers dislike the inefficiency of long meetings and 82% believe millennials have a sense of entitlement unlike previous generations. 

“Millennials want it all — good wages, a sense of purpose in their role, clear communication from their employers and flexible options,” said Peter Cosgrove, director of Cpl Resources. “Pay without purpose won’t cut it for this generation.”