Through our dealings with clients and candidates, we obtain regular feedback that gives us an indication of the condition of the market as below:

  • The market is now in paralysis as employers react to the challenges the Covid-19 pandemic presents with regards to collapsing revenue and cost reduction. The majority of sectors have been very badly affected with some more than others, namely retail, hospitality and construction reporting mass layoffs. The level of unemployment is forecasted to hit 20%, a figure not even achieved during the financial crisis of 2008.

  • A number of sectors continue to perform strongly like pharmaceutical, medical supplies and grocery along with their material and service suppliers. However, the uncertainty within the market is leading many companies to freeze recruitment to all but critical resources as they redeploy staff and move to remote working arrangements.

  • A large number of the retail, hospitality and construction experienced candidates available in the market, unfortunately, have little prospect of transferring those skills into other industries in the short-term as so few opportunities will exist and employers, once again, will have the luxury of hiring only the most suitable candidates that require minimal training.

  • The recovery, when it arrives, will show an initial increase in temping resource demand as companies begin to ramp up their operations. It will take some time before employment fully recovers as companies will begin to hire in stages that match the increase in demand/revenue.

  • Whilst the government has implemented several employment supports to assist people in the short term, the social and economic repercussions of the Covid-19 crisis will be felt for years to come. Similar to the recovery of the 2008 financial crisis, we expect to see a number of employment activation schemes implemented by the government similar to JobBridge and the Work Placement Scheme.

  • As Europe will attempt to reduce its unemployment levels, we expect the policy and criteria towards granting non-European working permits will be tightened so only a revised list of critical skills will be eligible.

The recovery will arrive and when it does, Ireland will once again become the darling of Europe as we show the world our resilience and determination to succeed. In the meantime, stay safe, be kind, manage stress and look after both your physical and mental health.