The hiring rate for the first five months of 2022 was on average 27% higher compared to the same period during 2019.
The labour market pulse results from IDA Ireland, Microsoft and LinkedIn revealed that there was continued labour market recovery during the first three months of the year despite increasing economic uncertainty.
IDA Ireland recorded strong flows of foreign direct investment amid a deteriorating macroeconomic environment.
The latest CSO data revealed that hiring has continued, with the total number of people employed in Ireland reaching record levels and the unemployment rate returning to pre-pandemic levels below 5%.
The latest results from the Labour Market Pulse offers an insight into the trends across the Irish labour market.
Remote work
The results also demonstrate higher levels of remote work opportunities compared to other labour markets.
Nearly one in five (19.2%) Irish jobs advertised on LinkedIn during the month of April provided candidates with the ability to work remotely.
Ireland has a greater level of remote work opportunities compared to seven other labour markets analysed by LinkedIn. Countries such as the UK and Germany had remote work opportunities for just 13.7% and 11.8% of job openings.
Ireland was also found to have the highest level of employed people usually working from home in the EU during 2021 at 32%.
Approximately 20% of Irish hybrid employees are considering moving to a fully remote work model according to Microsoft’s 2022 Work Trend Index published earlier this year.
The index also found that 42% of remote employees are considering a switch to a hybrid work model over the next year.
Martin Shanahan, CEO, IDA Ireland said: “I welcome the data insights which shows that hiring rates are continuing to demonstrate strong signs of recovery in the wake of the pandemic.
Mr Shanahan continued: “Even amidst the significant uncertainty in today’s global economy, it’s highly encouraging to see the unemployment rate returning to below 5% and a strong flow of foreign direct investment into Ireland. In a challenging environment, firms throughout the country – from large multinationals to small SMEs – are adapting.”
Sharon McCooey, head of LinkedIn Ireland, said: “Our data shows that hybrid working continues to be a significant factor in attracting talent to organisations, which in turn has led to an evolution in how we collaborate, and a natural uptake in the adoption of digital skills and tools.”
