TECHNOLOGY

Hiring rates for the first five months of 2022 were 27% higher than in 2019

Nearly one in five Irish job openings on LinkedIn offer candidates the opportunity to work from home

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Hiring rates in the first five months of 2022 were on average 27% higher than the same period in 2019, despite significant uncertainty in the global economy due to the war in Ukraine, ongoing Covid-19 disruption in major markets and related inflation and supply chain pressure.

This is according to the latest Labor Market Pulse report from IDA Ireland, Microsoft and LinkedIn, which looked at activity between January and May 2022.

The report provides an overview of the latest insights and trends in the Irish labor market to inform decision-makers in business, academia and public policy.

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The Labor Market Pulse report also highlighted the growing importance of digital skills among the current workforce. New data shows that the share of digital skills added by members has increased by nearly 20% since 2019. Digital literacy (44%), data science (24%) and development tools (16%).

As digital skills increase, the proportion of non-digital skills added by members has fallen by nearly 15% since 2019 and nearly 25% since 2015, while the intensity of digital skills is increasing in a range of non-tech sectors, including construction , transport & logistics, healthcare, business services and finance.

Remote work

Nearly one in five (19.2%) Irish LinkedIn job openings in April offered candidates the opportunity to work from home. As a result, Ireland has more outside roles available in seven markets controlled by LinkedIn, with a clear lead over other countries such as the UK (13.7%), United Arab Emirates (12.4%) and Germany (11.8 %.) In 2021, Ireland had the highest number of employees who usually work from home in the EU at 32% in 2021.

Earlier this year, Microsoft’s Work Trend Index 2022 found that many Irish hybrid workers are considering moving to a full remote work model (20%) and even more remote workers are considering moving to a hybrid work model in the coming year (42%).

The survey highlights what matters most to employees in their job other than pay, with a positive work culture leading the way (59%), followed by flexible working hours (50%) and benefits that promote positive health and wellbeing (43%).

Evolution of skills

A range of factors, such as Covid-19, Brexit and additional regulation in the financial services sector, have accelerated a series of transformational trends in the labor market. Industries are becoming increasingly digital and the rise of remote working is fundamentally changing the nature of how employees collaborate. Likewise, developments in the industry have led to the demand for new skills, such as customs regulation and GDPR expertise.

Analysis of skills added by LinkedIn’s Irish members revealed:

Impact of Brexit on the transport and logistics industry: Customs regulation was the most important skill added by members in this sector in 2021. Increased regulatory requirements in financial services: Regulatory compliance, General Data Protection Regulation (GDPR), and Know Your Customer (KYC) were among the top 10 skills added by employees in 2021. Change in marketing focus in the Media & Communications sector: New skills such as search engine marketing, social marketing and email marketing were among the top 10 skills added by employees in 2021. Changing Technical Requirements in the Software & IT Services Sector: Jira, Kubernetes and Python were among the top 10 skills added by members in 2021, as opposed to more traditional skills such as SQL, JavaScript and Software Development topping the list in 2015.

“The growth in the share of digital skills being added by LinkedIn members and the simultaneous decline in the share of non-digital skills points to the accelerating digital transformation of our economy and society and the need for the current workforce to keep pace. with this acceleration,” said James O’Connor, site leader of Microsoft Ireland and vice president of Microsoft International Operations.

“While people working in software and IT services have added the bulk of digital skills by 2021, we are increasingly seeing a growth in the need for digital skills in traditionally non-tech sectors, including education, finance, media , construction and retail. This emphasizes more than ever the importance of external learning pathways and employer support to equip people – regardless of age, background or experience – with the skills to participate fully in Ireland’s digital economy.”

Sharon McCooey, Head of LinkedIn Ireland, added: “Our data shows that hybrid working continues to be a key factor in attracting talent for organizations, which in turn has led to an evolution in the way we collaborate and a natural adoption in the adoption of digital skills and tools.

“This evolution in skills among the Irish workforce is not just being driven by the pandemic, as a range of other factors, such as Brexit and increased regulation, have left many professionals up-skilling in areas such as customs regulation, Know Your Customer and GDPR according to insights gained from LinkedIn’s 2+ million Irish member base.”

Full details on the latest Labor Market Pulse insights can be found at: idaireland.com/latest-news/publications/labour-market-pulse-edition-6

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Read more: Employment IDA Jobs LinkedIn Microsoft Unemployment



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