The IBEC Quarterly Economic Outlook for the first quarter of 2020 makes very interesting reading for those looking at returning options in Ireland in 2020 .
On employment the Irish unemployment rate now stands at 4.8% with the number of people employed in Ireland growing by a staggering 25% since 2013 .
As the number of people in the labour force has risen by only 11% the pool of talent required by the Irish labour market is falling significantly behind growing demand .
IBEC say that Labour shortages are now acute in many sectors with jobs involving professional, scientific ,and technical activities have the highest amount of unfilled vacancies more that 3 times the rate for other sectors .
There are currently 2000 unfilled vacancies in these sectors according to IBEC representing 15% of all vacancies .
Nearly 2% of jobs in Finance ,Banking and ICT remain unfilled and with more young people staying longer in Education the skills shortages can only increase and impact on future economic growth .
The good news for jobseekers and Back 4 Good subscribers is that a tight labour market is resulting in upward pressure on wages with annual increases of over 4% with annual bonuses rising by nearly 7% .
In the ICT sector bonuses are rising at around an additional €5 an hour on top of the salary and in Finance with additional bonuses of over €3 per hour on top of salary.
Overtime has also risen rapidly with a 50% rise in overtime earning in public administration and defence with other areas such as transport and storage ,administrative work and construction offering 25% plus extra overtime.
What the IBEC review clearly demonstrates is that it is a excellent time to look back home for your next opportunity and Back 4 Good are keen to hear from you .
Our Patricks Week talent drive is underway and interviews are available for roles in all sectors , send your cv today to greg@project.blueberry.ie today and we will take it from there for you.
