New professional job vacancies in Ireland fell 8% in December from the same month in 2021, reports The Irish Times, citing research from Morgan McKinley. The total number of professional job vacancies in Ireland slumped 17% in the final three months of 2022 compared with the previous three months.

Hiring in the financial services sector was ‘consistent’ in the fourth quarter despite growing demand for mortgage professionals following the loosening of the Central Bank of Ireland’s mortgage rules for first-time buyers. The construction sector, meanwhile, ‘is currently very stressed, with one in four construction jobs vacant, according to Trayc Keevans, global FDI (foreign direct investment) director at Morgan McKinley Ireland. Meanwhile, in the technology sector, the number of jobs available in the fourth quarter of last year looked ‘steady’ for 2023 with companies still hungry for local talent.

“Ireland has become less attractive to overseas technology candidates and overseas hires have also become less of a priority for Irish technology employers,” Keevans said. “Factors such as remote working options and, to a lesser extent, other economic and housing crisis variables, resulted in overseas job seekers putting pause on their plans to relocate to Ireland or considering alternative locations in the short term. In addition, Ireland’s technology employers have benefited in local hiring and have taken advantage of available personnel from multinationals already in the market.”