FDI Sector Jobs Postings In Decline

12 Jan 2018 | 09.30 am

FDI Sector Jobs Postings In Decline

CPL warns about impact of Artiificial Intelligence

12 Jan 2018 | 09.30 am

The number of jobs advertised in FDI sectors of the economy fell in the last quarter of 2017, and with employment levels approaching technical ‘full employment’ jobs growth is likely to stabilise or plateau during this year, according to Cpl Resources’ Q4 2017 Employment Market Monitor.

Cpl’s quarterly index covers four sectors which broadly represent FDI businesses: IT and telecoms; science, engineering and supply chain; sales and marketing; and accountancy, finance and banking. In the last quarter, they posted 2,370 jobs.

The accountancy, finance and banking sector continued to perform strongly, but an overall decline of 4% in listings was driven by a 30% decline on the previous year in science, engineering and supply chain, with IT posting a 10% increase.

Following 21 quarters of listings growth, this is the third quarter in a row the year-on-year change has been negative.

Director Peter Cosgrove said: “We are continuing to move towards full employment which means that jobs growth will likely stabilise in the next few quarters. With unemployment presently at just above 6%, jobs growth will be about finding the best candidates in Ireland or from abroad.

“Nonetheless, we still need to be aware of the pace of change and the impact this has on the future of jobs and education. The impact of AI on jobs is expected to be profound — a recent McKinsey Global Institute study suggests that between 400 million and 800 million individuals could be displaced by automation and need to find new jobs by 2030.

“As a result, government, employers and employees must focus on what can be done to protect jobs through upskilling and education.”

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