Irish Employers Continue Hiring Strongly into Q3 Despite the Economic Uncertainty
Irish employers anticipate a strong staffing climate during Q3 2023 with a Net Employment Outlook (NEO) of +26 percentage points. Irish hiring managers expect the NEO to strengthen by 4 percentage points compared to the previous quarter, but to worsen by 14 points compared to this quarter last year. Ireland ranks in the top half in the region for its employment outlook, 6 points above the regional average.
The Irish labour market remains resilient amid economic uncertainty in the region. Irish hiring managers seem even more confident than last quarter, which is likely due to the country's strong economic outlook and growth prospects. Indeed, the Irish economy outperformed the rest of the eurozone last year and is predicted to continue doing so in 2023, as the country attracts a significant amount of large multinationals.
40% of employers in Ireland are planning on expanding their workforce in Q3 2023. The most popular staffing choice is to keep workforces steady with 45% indicating a static workforce projection for the quarter. A minority of 12% anticipate making redundancies to their workforce.