We just learned from the CSO yesterday that Ireland’s seasonally adjusted unemployment rate was downwardly revised to 7.5% in October 2016 compared to 7.7% previously estimated .<\/p>\n
This 7.5% figure is the lowest level since September 2008 .Unemployment rates in Ireland averaged 10.88% from 1983 until 2016 reaching an all time high of 17.40% in December of 1985 and a record low of 3.70% in December of 2000.<\/p>\n
While this excellent news on the employment level is very welcome and an unemployment rate of under 8% is a significant improvement there in now a very real concern among employers that the already acute skills shortage in all sectors will now intensify .<\/p>\n
At the CEO forum held in Dublin a survey of Ireland’s CEOs highlighted that a shortage of Talent was the biggest concern of Ireland’s CEOs far outweighing \u00a0Brexit or President Trump .<\/p>\n
The concern is that this skills shortage will slow down our economic progress and the lack of skilled talent is leading \u00a0to wage inflation in many sectors .<\/p>\n
The battle for Talent is Global and in high-skilled industries employers are willing to pay a premium for difficult to fill roles \u00a0with competition between countries and employers happening on a daily basis .<\/p>\n
Ireland needs to meet these skills \u00a0shortage head on and the Education and Training system must address the need for large numbers of apprentices with a targeted action plan .<\/p>\n
Ireland must invest in innovative solutions that expand our Talent pool by sourcing Talent overseas ,both Irish emigrants abroad and skilled non-Irish workers who are available in a number of locations .<\/p>\n
Failure to address this issue in the short term will result in significant wage inflation ,a slow down in economic development and could result in today’s unemployment rate rising again .<\/p>\n","protected":false},"excerpt":{"rendered":"
We just learned from the CSO yesterday that Ireland’s seasonally adjusted unemployment rate was downwardly revised to 7.5% in October 2016 compared to 7.7% previously estimated . This 7.5% figure is the lowest level since September 2008 .Unemployment rates in Ireland averaged 10.88% from 1983 until 2016 reaching an all time high of 17.40% in […]<\/p>\n","protected":false},"author":4,"featured_media":136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[94,92,93],"class_list":["post-318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-employers","tag-skilled-workers","tag-wage-inflation"],"acf":[],"_links":{"self":[{"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/posts\/318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/comments?post=318"}],"version-history":[{"count":1,"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/posts\/318\/revisions"}],"predecessor-version":[{"id":319,"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/posts\/318\/revisions\/319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/media\/136"}],"wp:attachment":[{"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/media?parent=318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/categories?post=318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/project.blueberry.ie\/back4good\/cms\/wp-json\/wp\/v2\/tags?post=318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}