Today there has been a report from KBC Bank (www.kbc.ie) stating that over half of all Irish companies have left some staff go since October 2008. In the survey they also found out that 10% of firms are still hiring, and two thirds are actively seeking to trade down. These figures while are surpising, do not come as a shock (to us anyway). THe survey continues to say that 30% of the firms polled expect their operating costs to decline in 2009. Typically Janurary is a strong month for new jobs, across Ireland, but we expect that things will be significantly slower.
Businesses are either actively trying to reduce their staffing overheads due to reduced orders, or they hav hiring on hold. For the past 6 years the unemployment rate has been consistantly under 5% but this year it will be closer to 6% and the current rate is hovering around 8%. In November 2008 it was 7.8% (seasonally adjusted).
With this sad and slighlty depressing news we would like to wish you a happy and properous new year. Thanks for yet another year of reading our Irish Jobs News.