Coronavirus and Irish Job Postings Through May 15: Data from Indeed.ie
Ireland’s labour market downturn showing signs of bottoming out.
This post is updated as of 15 May 2020. We will continue to update these trends regularly as we track how coronavirus impacts the global labour market.
Ireland’s labour market continues to feel the effects of lockdown, with job postings on Indeed Ireland down -53% on last year’s trend. The situation appears to be stabilising though, with the pace of decline only slightly faster than last week’s reading of -51% and -49% at the start of May. With certain sectors of the economy starting to reopen and government data suggesting that claims for emergency unemployment payments may have peaked, we may be seeing a bottoming out in the labour market.
The trend in new job postings (those on Indeed Ireland for seven days or less) has been broadly stable in recent weeks, albeit still down -61% on last year.
Sectoral hits vary considerably
Healthcare occupations unsurprisingly continue to show the least marked impact, while sectors such as insurance and software development have held up better than most. The steepest declines in job postings are in shut-down sectors such as beauty & wellness, hospitality & tourism and food preparation & service, a pattern that appears likely to continue until greater clarity emerges on how and when these activities can safely reopen.
To measure the trends in total job postings, we calculated the 7-day moving average of the number of job postings on Indeed Ireland. We indexed each day’s 7-day moving average to the start of that year (1 February 2020 = 100 for 2020 data, and so on), or another date if specified on the chart.
For each country we report how the trend in total job postings this year differs from last year, in order to focus on the recent changes in labour market conditions due to COVID-19. For example: if job postings for a country increased 30% from 1 February 2019 to 15 May 2019, but only 20% from 1 February 2020 to 15 May 2020, then the index would have risen from 100 to 130 in 2019 and 100 to 120 in 2020. The year-to-date trend in job postings would therefore be down 7.7% on 15 May (120 is 7.7% below 130) in 2020 relative to 2019.
Information is based on publicly available information on the Indeed Ireland website (and other countries named in this post), limited to Ireland (and those countries), is not a projection of future events, and includes both paid and unpaid job solicitations.
Jack is an Economist on the Indeed Hiring Lab who focuses on the UK/Ireland labour market. Before joining Indeed, Jack was a senior economist at Nationwide Building Society and prior to that at global information provider IHS Markit. He holds an MSc in finance and economic policy from SOAS, University of London and a BSc in economics and finance from the University of York.