Recruiter Morgan McKinley reports sharp fall in professional vacancies
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Recruiter Morgan McKinley reported a sharp fall in professional vacancies in sectors including accountancy and finance as maintopics/inflation_topic-5127489.html]inflation[/url] and a slowing economy bite.
The company’s Quarterly Employment Monitor showed new professional job opportunities in Q2 were down more than 15% compared to the previous quarter across all professional sectors amid soaring costs and the housing crisis.
There was a 43% decrease in construction opportunities coming to market in this period due to a lag in filling positions caused by a shortage of skills and difficulty in finding accommodation for workers coming from overseas, according to Trayc Keevans, global FDI director at Morgan McKinley.
Salaries have remained steady across most areas despite these headwinds, as firms are looking to keep the staff they have rather than increase spending on new hires, the survey also indicated.
However, while opportunities across the board slumped, the number of job applicants in Q2 was 20% higher. The survey suggested this jump was due to the tech sector downturn and an increase in the number of business support professionals entering the job market.
“The cooling of hiring in the tech sector has led to a larger talent pool of candidates seeking tech sales positions,” said Ms Keevans.
"This has created an employer-led market with increased competition and lower salary offers for senior employees."