Economy | Collins McNicholas

Half-Way Point Shows Positive Employment Trends for 2017

Half-Way Point Shows Positive Employment Trends for 2017Collins McNicholas has seen a 6% growth in registered job vacancies in the first half of 2017 compared with the first half of 2016. The number of candidates registered with Collins McNicholas is up by 24% in the same period. The growth in jobs shows a buoyant job market with candidates willing to switch jobs to take advantage of more promising opportunities. Collins McNicholas opened its Limerick office in February this year and that has partly contributed to the increase in candidates. However, candidates have more confidence in the job market now and they are seeing lots of opportunities out there. The unemployment rate for June 2017 was 6.3%, down from 6.7% in January 2017 and down from 8.3% in June 2016. The government expects the unemployment rate to fall below 5% next year. Brexit offers both a challenge and an opportunity with more companies in the UK considering relocating to Ireland. Foreign investment has continued to grow and IDA Ireland has reported a comparable financial investment from FDI as in 2016 but with a greater number of jobs being created. Job announcements from FDI approvals have risen from 9,000 in the first half of 2016 to 11,000 in 2017. Announcements from Microsoft of 600 jobs, and Zendesk of 500, show the demand for technology professionals is still growing strong. Financial services and life sciences continue to perform well – Northern trust announced 400 jobs for its Limerick office and MSD announced 330 jobs for its Carlow and Cork sites. Niall Murray, Managing Director of Collins McNicholas, commented on the labour market by saying, ‘it has been a very positive start to 2017 for job creation and I expect this to continue in the second half of the year. Our clients are very positive about the prospects of job growth and we are seeing a very strong demand for experienced professionals in the medical device and biopharma sectors, particularly for niche engineering skills, and for software developers and finance professionals. With the growth in demand for the top professional talent in recent years, companies are showing a greater willingness to invest in the training and development of graduates, and younger professionals, that show a lot of potential. Companies are putting much more emphasis on the development and retention of their core teams. We are seeing a tightness in the labour market with greater competition between companies for this top tier of talent. Despite this pressure on the talent supply, growth in graduate output, the return of Irish citizens from overseas and the streamlined visa system has enabled the labour market to successfully accommodate this rise in demand.’...

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Career opportunities, a better quality of life and lower cost of living is attracting top talent to the Mid-West

              Half of all professionals move to Mid-West for career opportunities – new survey shows 93% of respondents happy with their relocation Seven out of ten have a quicker commute  – with almost two-thirds under 20 minutes A better quality of life, career opportunities, shorter commutes, less traffic, and lower property prices and living costs – these are the main reasons why highly-skilled professionals say they have made the move to the Mid-West. The Mid-West Relocation Survey, which is being launched in Limerick this morning, reveals that the Mid-West is fast becoming a destination of choice for top talent. The survey was carried out by National Recruitment & HR Services Group Collins McNicholas, in conjunction with Limerick Chamber. Collins McNicholas opened a Limerick office to service the Mid-West region in February of this year. More than 93% of those surveyed said they were satisfied or very satisfied with their relocation.  Almost three-quarters (72%) say they now have a better balance between their working and home lives. Some 70% now have a quicker commute to work since relocating to the Mid-West – with nine out of ten people having a commute that is less than 40 minutes. Some 61% now have a commute of less than 20 minutes. Interestingly while 45% of those who moved back were originally from the Mid-West region, some 42% relocated from outside of Ireland. When asked about the factors which influenced their move to the Mid-West, 88% cited a better quality of life while two-thirds referenced a reduced cost of living. The other main reasons given were: lower property...

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Increase in Registered Job Vacancies of 9% in the 1st Quarter of 2017

Collins McNicholas has seen a 9% growth in registered job vacancies in the first quarter of 2017 compared with the first quarter of 2016. The number of candidates registering with Collins McNicholas has increased by 1% in the same period. The unemployment rate for February 2017 was 6.6%, down from 6.7% in January 2017 and down from 8.4% in February 2016. As the unemployment rate declines, we are seeing a tightening in the labour market and increased demand for certain types of skills. The biopharma, medtech and software sectors continue to grow and there is increased demand for engineering, science, data analytics and software development skills within these sectors. It is encouraging to see the growth of the Coder Dojo movement and the increased applications in the STEM subjects at third level, positioning Ireland to take advantage of the expected growth in these sectors globally where the competitive advantage is centred on access to talent. The short to medium term outlook for the Irish economy is good. The ESRI forecasts GDP growth of 3.8% in 2017 and 3.6% in 2018, with a corresponding fall in the unemployment rate to 6.4% by the end of 2017 and 5.6% by the end of 2018. Although Brexit will likely have some negative impact on trade, the economic outlook for Ireland’s principal trading partners looks positive in the short to medium term. Domestic factors are playing a more important role in economic growth with a resurgent construction sector expected to be a significant driver of this growth as the housing shortage is addressed. Ireland continues to attract international investment and this year has...

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The Year in Recruitment 2016

2016 was another good year for job growth in Ireland. Over the course of the year, unemployment dropped from 8.9% to 7.2%, to reach an eight year low. Foreign Investment IDA Ireland companies performed very well in 2016, with employment by overseas companies almost reaching the 200,000 mark. These companies created just under 19,000 jobs and had the lowest level of job losses in 19 years, giving them a net job increase of 11,842 jobs in 2016. More importantly, every region of the country experienced a net job increase. It is vital that more jobs are created outside of the main urban centres. Dublin has enjoyed strong job growth for a few years but economic recovery has been slower to arrive to the more rural parts of the country. This makes the net job increase in each region by IDA companies particularly significant. International services, financial services, pharmaceuticals and medical devices were all cited by IDA Ireland as sectors that provided robust job growth. Collins McNicholas Director Michelle Murphy emphasised the importance of the projects happening outside of Dublin, particularly in the West: ‘We are seeing more large scale investment in regional locations. Companies such as Zeltiq and Siteminder, both of whom invested in Galway this year, are realising the depth of talent that is available throughout the country. The quality of the workforce, combined with lower overall costs, makes these locations attractive to multinationals investing in Ireland, and in the process generate vital regional employment.’ Migration Ireland has experienced net inward migration for the first time since 2009. Irish nationals, however, continue to experience net outward migration, but...

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Invest4Success Event Showcases the Potential of the Upper Shannon Erne Region

My colleague Ita Hodder & I attended the Invest4success event in Croke Park last Thursday afternoon on behalf of Collins McNicholas. The event was a great success, showcasing some of the established and upcoming businesses in the upper Shannon Erne region. There were representations from businesses in counties Leitrim, Cavan, Roscommon & Longford all discussing the potential for investors, partnerships and employment opportunities in the region. Basing the event in Dublin offered an opportunity to reach a wider audience and in particular the diaspora living outside the area. The event was well attended and we heard some very positive presentations from Abbott Diagnostics, Vistamed and Cora Systems, who spoke of their commitment to the region and their continued growth. Some of the other businesses exhibiting on the day included; ATA Group, Masonite, Merenda, Obelisk, Prior medical and Lakeland Dairies. For employment opportunities many companies discussed the values of what working in the regions can offer. This includes shorter commuting times, affordable housing, access to schools, strong communities and all round better quality of life. This was reinforced by some of the local tourism initiatives we heard about such as the Blueways project by Waterways Ireland, highlighting the excellent recreational activities available in the region. Overall the region plans to create almost 2,000 jobs in the next few years across a number of sectors which will have a significant impact on the area. It was great to see such a positive message being construed across the board from the larger multinationals to the smaller start-ups. If you are interested in hearing about specific employment opportunities in the region please contact me...

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Budget Basics 2017

Tuesday afternoon, Ministers Noonan and Donohue presented the budget for 2017 to the Dail. It included a number of expected measures, along with some interesting talking points. It’s very easy to get lost in the stats, but what implications does this really have? At a breakfast briefing this morning, hosted by RBK, Ulster bank and Athlone Chamber of Commerce, some of the main areas were outlined and have been summarised below – USC has been reduced by 0.5% Social welfare payments are to be increased by €5 per week €15 million has been allocated to bringing high-speed broadband to rural Ireland The education sector will receive an extra €458 million. This will be spent on recruitment of 2400 teaching staff, €36 million on higher and further education, and a 35% increase on early years funding A tax increase on cigarettes of 50c per pack VRT relief on the purchase of hybrid vehicles as a measure in support of tackling climate change First-time buyers will get an income tax rebate of 5% on the value of their purchase up to a cap of €20,000 refund €1.2bn in funding for housing, with47,000 new social housing units by 2021 800 additional Gardaí to be recruited in 2017 1000 additional nurses and midwives to be recruited 10c rise in the minimum wage as recommended by Low Pay Commission There has been a mixed reaction to the budget announcement so far. The general conclusion is that while there are some positive moves, none of these are likely to have a very significant impact on the average worker. Donie Shine Recruitment Consultant Collins McNicholas Recruitment & HR Services...

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