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

Recruitment in Cork gathered pace in September following a fall off in demand in August, according to the latest Bank of Ireland Business Banking 'Cork Job Index' which was released today, Monday 10th October 2005. In total, 6,766 recruitment advertisements were placed in the local newspapers in Cork in September.

This represents a 10% increase over August with strong demand for labour evident across a number of sectors. The manufacturing sector (+117%) increased sharply, although evidence of a longer term trend will be required before the sector can be said to be in recovery. The financial sector (+95%) rose strongly and was followed by gains in the agriculture (+50%) and leisure (+7%) sectors. There was also strong demand in the retail (+20%) sector which may be a sign of renewed consumer confidence.

Despite the strong increase in demand for labour during September, there was some decline. The professional sector (-30%) declined as did the education sector (-24%), 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 Cork is consistent with both the national trend, which indicates that recruitment is at a record high and with other urban centres across the country including Waterford, Limerick and Galway. The trends evident in the Cork Job Index are also 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 'Cork Job Index' Kieran Coveney, Regional Business Manager, Bank of Ireland with responsibility for Cork said: "The increase in the manufacturing sector of 117% is consistent with the Purchasing Managers Index issued earlier this week which shows job creation in the sector growing at its fastest pace in 8 months. The findings of the Job Index are welcome news for the economy in Cork, although the strong demand for labour and lack of supply may place some constraints on growth".

10th October 2005

Anne Mathews
Media Relations Manager
Bank of Ireland Group
Tel:01 6043836 / 087 2460358

Kieran Coveney
Regional Business Manager
Bank of Ireland Cork
Tel: 021 427 4322

Note to Editors:

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