Two in five Cork firms struggling to fill vacancies
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Businesses in Cork have cited the continued shortage of skilled workers as one of the major threats to growing the business this year.
According to a survey by Cork Chamber of its members, almost two-thirds of firms expect the skills shortage to continue for a further year with the majority expecting the shortage to be most acute at the mid-management level.
Data published this week by the CSO shows another annual rise in the number of workers in the State with unemployment rates remaining close to historic lows.
"Businesses are contending with skills gaps across various sectors and professions," Chamber President Ronan Murray said. "A trend not surprising given the economy is currently at near full employment.
"Many companies are proactively addressing this challenge by implementing training programmes and collaborating with educational institutions," he said.
According to the survey, 41% of Cork businesses had vacancies advertised and 39% reported difficulties in filling them. Despite the challenging labour market, 47% of respondents plan to increase employee numbers over the next 12 months with only 1% expecting them to decrease.
The survey, in association with Ptsb, was focused on the final quarter of 2023 and 80% of firms expressed confidence in the Irish economy.
"In the face of ongoing global economic volatility, it is worth highlighting that confidence in the Irish economy has remained strong throughout the fourth quarter. Cork continues to exude economic resilience, as evidenced by a stream of investments and expansion announcements from some of the region's largest employers,” Murray said.
The opening weeks of 2024 have been littered with a number of significant business closures within Cork's hospitality sector. Business operators and representative bodies have said increases in the minimum wage, the recently increased VAT rate, the looming tax warehouse deadline and the auto-enrolment pension scheme later this year are combining to place severe pressure on firms.
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