In this quarter, there has been a notable increase in demand for cybersecurity professionals and process engineers, signaling a shift towards an employer-driven job market.
Despite recent tech-related layoffs, the job market in Ireland appears to be relatively stable. The latest Morgan McKinley Ireland Quarterly Employment Monitor, released on April 18, indicates positive hiring trends in certain science and technology sectors.
Trayc Keevans, the Global FDI Director at Morgan McKinley Ireland, has observed a surge in demand for specific skills among job seekers. In general, professionals across various sectors are actively seeking new opportunities, which can be attributed to individuals re-entering the job market after receiving redundancy payments.
Although the media has been highlighting a potential tech recession, some industries have continued to thrive. Notably, the engineering and life sciences sector has experienced substantial growth, with Ireland leading the way in research and development and manufacturing.
Keevans also noted a considerable demand for cybersecurity experts. Despite some caution in the technology sector regarding hiring, the number of available tech jobs has increased, with the most significant growth occurring in cybersecurity roles.
The report identifies common cybersecurity positions in demand, including cybersecurity engineers, cyber analysts, infosec analysts, and SOC managers. The banking and financial services sector, in particular, has been active in hiring cybersecurity professionals.
In addition to cybersecurity, other technology and engineering roles experiencing high demand include security analysts, full stack developers, data analysts, product managers, software engineers, automation engineers, project engineers, and electrical engineers.
Process engineering stands out as the most sought-after position, and Java and Python rank as the most in-demand programming languages.
The growing interest in automation positions is attributed to individuals entering the data center industry, attracted by higher salaries and benefits. Despite the increase in available positions, the ability for employees to negotiate higher salaries has remained limited.
According to Keevans, this trend indicates a transition from an employee-led to an employer-driven job market. Employers are becoming more specific in their hiring criteria, seeking candidates with all the necessary, specialized skills.
Furthermore, professional service firms, particularly in accountancy and finance, have reduced their hiring of senior professional talent in the last quarter, as they continue to assess the potential ramifications of tech sector layoffs.