New job opportunities for Irish professionals decreased 12 per cent in May, according to the latest Morgan McKinley Irish Employment Monitor.

The research found that the number of new professional job openings declined from 8,919 in April to 7,890 in May, a decrease of 12 per cent.

Year on year, the number of professional roles available in Ireland declined 5 per cent from 8,283 in May 2011 to 7,890 in May 2012.

Meanwhile, the number of professionals seeking new job opportunities rose by 22 per cent from 10,390 in April to 12,645 in May.

This was also a marked increase (39 per cent) when compared to the 9,120 people seeking new career opportunities during the same month last year.

The current instability and turmoil within the European Union and international financial markets, in particular the focus on Greece and Spain, has certainly impacted confidence in the Irish hiring market, Karen O’Flaherty, chief operations officer at Morgan McKinley said.

"This turmoil is reflected in a decrease in the number of new professional job opportunities coming onto the market as companies remain cautious about their hiring plans and indeed slow their recruiting processes to allow greater clarity to return to the markets," she added.