Northern Ireland’s job market is red hot, with the number of job vacancies continuing to increase sharply.
Those are the findings for the latest Northern Ireland jobs report from recruitment site NIJobs.com and Ulster Bank which found that half of the 31 job categories it covers saw the highest ever number of vacancies in the third quarter.
The report said the sectors with the most vacancies – accounting for 40% of all available roles - include nursing, healthcare and medical; IT; hospitality; retailing, wholesaling & purchasing and accountancy & finance.
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The findings concur with official labour market data that companies are having to fight hard to secure top talent.
Sam McIlveen, General Manager at NIJobs.com, said there has never been a better time for candidates to look for a job.
“There are many well paid, skilled roles available on the market, while that offers tremendous opportunities for jobseekers it creates a challenging recruitment environment for businesses. The competition for talent is immense right now.
“Our data shows that applications have actually increased compared to this time last year so people are on the move but the volume of jobs available means they can pick and choose.”
It is yet to be seen how the end of the job retention scheme – which closed at the end of September – will impact the job market, but the findings will allay fears that the seemingly robust recruitment sector’s boom in the wake of the Covid-19 pandemic would be short lived.
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“The end of furlough should bring more applicants forward for roles, but the ongoing skills shortages and experience required to meet current demand is proving difficult for employers,” Mr McIlveen said.
Richard Ramsey, Chief Economist at Ulster Bank, said the lack of supply of talent could push salaries higher, although that is likely to be countered by increasing inflation.
“The ongoing skills shortages have triggered inflation busting pay increases in some areas. Pay has become an even more sensitive issue given the evolving cost-of-living crisis. The majority of workers are likely to see pay fail to keep up with the rising cost of living. This has implications for employers’ ability to attract and retain staff in what is a sellers’ market.”