Bank index shows 2% rise in job adverts

Jobs advertised in newspapers rose 2 per cent in the third quarter over the same period last year, according to the Bank of Ireland…

Jobs advertised in newspapers rose 2 per cent in the third quarter over the same period last year, according to the Bank of Ireland business banking job index.

The index rose six points in September to 117, its second highest level since the bank first began compiling the data in May 2002. Despite a spate of high-profile closures recently, manufacturing proved among the most robust sectors. The manufacturing index soared 169 per cent from September of last year to its highest ever level.

Construction is also performing well, with a 21 per cent year-on-year growth in positions advertised pushing the sectoral index to a record high.

Less successful is the IT industry, which fell by 42 per cent over the second quarter. A significant gap has opened between financial and professional sectors with the former down 33 per cent and the later up 12 per cent in the last 12 months.

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Advertising of public sector jobs slipped again, with education recruitment down 26 per cent and healthcare 12 per cent.

The healthy state of jobs recruitment offered further evidence of a global recovery, said Dr Dan McLaughlin, group chief economist at Bank of Ireland.

"Growth has picked up recently in the US, Britain and Asia, which suggests that a global recovery is under way, and business and consumer sentiment in Ireland is also showing signs of an upturn."

He added: "The biggest gains are in manufacturing, which is a welcome reversal of a downward trend... Clearly the jobs boom in the public sector has run its course, but private sector employment appears to be stepping into the breach."