Irish technology sector shed 3,000 jobs in the year to August, says CSO

Some 3,000 workers left positions in the State’s technology sector in the year to August, according to the latest employee index data from the Central Statistics Office (CSO).

The overall index, based on payroll data, showed the total number of employees in the State increased by 2.15 per cent in the same 12-month period, bringing the total to 2,424,200.

Within this, the employee index for the information and communication fell by 2.4 per cent, leaving the total at 121,600. The technology sector has seen a series of lay-offs since the end of the pandemic, with Meta, Microsoft and Twitter (now X) among the large employers reducing their Irish staff numbers.

The sector which saw the largest increase in employee numbers in the year to August was the financial, insurance and real-estate sector, where the index rose by 5.8 per cent and employee numbers increased by 7,000.

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The sector with the largest increase in employee numbers on a monthly basis was accommodation and food service, which saw a rise of 0.6 per cent to August, while the largest fall was again in the information and communication sector, which shed 1 per cent.

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The CSO said the seasonally adjusted total employee index rose by 0.1 per cent in the month to August 2023.

John Mullane, statistician in the labour market and earnings division of the CSO, said employment was down for all those in the 34 years and under age categories in the month to August 2023, with the largest fall observed in those aged 15-19 years (-1.3 per cent), followed by the 20-24 year category (-0.4 per cent).

“There was no change in the 35-44-year age group. All groups 45 years and over saw an increase in employment, with the largest positive change observed in the 60-64-year-old group (+0.3 per cent),” he said.

A breakdown of the annual 2.5 per cent increase in the overall index showed the female employee index increased by 3 per cent, while the male index was up 2.2 per cent. With the exception of the 15-19 years age category, which fell by 4.1 per cent, all other age groups saw an annual increase in the employee index.

The age group with the largest annual increase in employee numbers was 65 years and over, with a 9 per cent rise, followed by those aged 60-64 years, up 5.9 per cent.

March 2021 was the last month to show negative annual change (-10.9 per cent) in the employee index.

The CSO’s monthly estimate of payroll employees uses data from Revenue’s PAYE modernisation. People are counted if they are estimated to have worked for greater than zero pay during the reference month. Results do not align with the labour force survey due to differing methodology.