Jobs surge evident in Galway according to Bank of Ireland's 'Galway Job Index'

- Pace of recruitment in Galway outstrips Cork and Limerick

Recruitment in Galway gathered pace in September following a fall off in demand in August, according to the latest Bank of Ireland Business Banking 'Galway Job Index' which was released today, Monday, 10th October 2005. In total, 2,218 recruitment advertisements were placed in the local newspapers in Galway in September.

This represents a 22% increase over August with strong demand for labour evident across a number of sectors. The manufacturing sector (+82%) increased sharply, although evidence of a longer term trend will be required before the sector can be said to be in recovery. The financial (+69%), leisure (+34%) and professional sectors (+31%) also showed strong gains while the retail sector (+27%) also increased indicating renewed consumer confidence.

Despite the strong increase in demand for labour during September, there was some decline across a number of sectors. The construction sector (-3%) fell slightly while there were more significant falls in the IT / Tech (-10%) and healthcare (-15%) sectors. The education sector (-37%) also fell sharply which is surprising and inconsistent with other urban centres as there is usually high demand to fill teaching posts at this time of the year with schools returning after the summer break.

The high demand for labour in Galway is consistent with both the national trend which indicates that recruitment is at a record high and with other economic centres across the country including Cork, Limerick and Waterford. In fact, the pace of recruitment in Galway in September outstripped both Cork and Limerick.

The trends evident in the Galway Job Index are consistent with the latest Central Statistics Office (CSO) Quarterly National Household Survey which indicates a high demand for labour in the economy.

Commenting on the 'Galway Job Index' John Lavelle, Regional Business Manager Bank of Ireland Galway said : "The increase in the manufacturing sector of 82% is consistent with the Purchasing Managers Index issued earlier this week which shows some recovery in the sector with job creation at its fastest pace in 8 months. The findings of the Job Index are welcome news for the economy in Galway, although the strong demand for labour and lack of supply may place some constraints on growth".

10th October 2005

For reference;

John Lavelle
Regional Business Manager
Bank of Ireland Galway
Tel: 086 2357040

Note to Editors:

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