Labour market sees a slight drop in churn rate
This Period With Was Destructions 142,500 Total Of Number Jobs Photo Month The Period Just Three Same The Job In In Created File 119,706 Over
The labour market saw a slight decrease in job churn during the third quarter with administrative and support services as well as the hospitality sector seeing high rates of employee turnover, new figures from the Central Statistics Office shows.
During the period from July to September, job churn was 365,750 — down 6.7% from the same period last year. This gives an overall churn rate for those three months, relative to total employment, of 12.8% — down from 14.1%.
Job churn is a measure of employee turnover showing the number of employees who’ve changed jobs or stayed in the same job.
The total number of jobs created in this three-month period was just over 142,500 with 119,706 job destructions in the same period.
There were 325,403 hirings during the quarter and 302,581 job separations. More than 2.5 million workers stayed in their current employment.
The highest job churn rate was recorded in the administrative and support service sector at 25.6% followed by the accommodation and food service sector at 22.7%.
The job churn rate for Q3 2024 was 12.8%, down 1.3 percentage points on the same period in 2023https://t.co/TPXiI4xybp#CSOIreland #Ireland #LabourForceSurvey #LabourForce #Households #Families #LabourMarket #LiveRegister #Jobs #Employment #Unemployment pic.twitter.com/EnuCwXWS1v
— Central Statistics Office Ireland (@CSOIreland) December 19, 2024
The firm size group that saw the highest job churn rate was those employing 50-249 people at 16.2%. The lowest job churn rate in the quarter was in firms with between one and nine employees at 6.6%.
Statistician with the CSO, Conor Delves, said 11.4% of employees were no longer in an employment that they held in the previous quarter.
“The largest year-on-year increase in job creations in the third quarter of 2024 were seen in administrative and support service activities, where creations were up 33.4% to 12,789 and information and communication, where creations rose 33.7% to 7,222,” he said.