The number of professional job openings in Ireland grew by 29.4% in December 2023 when compared to December 2022, according to the latest Morgan McKinley Ireland Employment Monitor for Q4, 2023.

On a monthly basis, professional job openings fell by 19.1%.

Meanwhile, the number of professional jobseekers fell by 9.2% over the year and by 29.1% over the month.

The fourth quarter of 2023 saw a 0.7% decrease in openings, compared to Q3 reflecting a more moderate position in line with seasonal and year-end considerations. Salaries also remained stable during the last quarter of the year.

The Morgan McKinley Employment Monitor recorded a 10% fall in the number of professional job seekers between the third and fourth quarters, reflecting an overall 30% reduction for the year. This suggests growing stability in job tenures and a lower rate of attrition, likely influenced by effective organisational retention strategies and job seekers’ cautious approach in a fluctuating economic climate.

The overall decrease in job openings and the cautious approach of job seekers indicates a more balanced market, and one that remains vigilant amid global economic uncertainty.

Trayc Keevans, Global FDI (foreign direct investment) Director, Morgan McKinley Ireland, said, “2023 involved significant adjustments in Ireland's job market, marked on the one hand by resilience and on the other by strategic shifts in various industries. Financial services, technology, and life sciences demonstrated ongoing strength, in spite of some significant cutbacks by largescale employers in the digital platforms sector.”

“The implementation of EU cybersecurity regulations (such as ‘NIS2’ and ‘DORA’) led to increased demand for specialised positions, particularly in cybersecurity and digital resilience. Looking ahead to 2024, this pattern of responding to evolving environments and regulatory requirements is likely to persist, where companies will prioritise innovative skills to remain competitive in a continuously evolving digital world,” Keevans said.