There have been “notable reductions” in graduate hiring by major firms in the accountancy and finance sectors because of the impact of AI, according to the latest Employment Monitor from recruitment firm Morgan McKinley Ireland.
The report found that the standout development in the second quarter of the year was the significant impact of AI and automation, highlighting potential challenges ahead.
“A notable trend driven by automation is the reduction in graduate-level hiring, raising concerns about potential shortages of experienced mid-level professionals, which could impact future business operations and growth,” said Trayc Keevans, Global Director at Morgan McKinley Ireland.
The shift towards AI has seen an increase in data engineering roles.
Overall, there was a year-on-year decline in job vacancies of 1.8% in the second quarter of the year.
The research found that on a quarterly basis, professional job openings increased by 10%.
Job seeker activity decreased by 6% from the first quarter but showed a modest year-on-year rise of 1.5%, indicating what Morgan McKinley described as a resilient yet cautious employment environment.
According to the research, ongoing debates around hybrid and return-to-office working models are continuing to shape recruitment strategies, as employers seek the right balance between flexibility and in-person attendance.
“Business support roles have shown increased hiring, particularly driven by the return-to-office trend, with strong demand for onsite co-ordination and administrative positions,” Ms Keevans said.
The report found that contract hiring among larger multinational firms slowed in the quarter, influenced by tighter cost controls prompting a shift towards permanent positions or offshore staffing solutions.
According to the employment monitor, the construction sector remains under significant pressure, facing persistent shortages of skilled professionals, especially quantity surveyors and project planners.
The data is based on new job vacancies and new candidates registered with Morgan McKinley’s network of Irish offices in Cork, Dublin, Galway, Limerick and Waterford.