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Recovery
The retail sector is delighted that more part-time jobs are becoming full-time
An increase in the number of full-time jobs has resulted in a boost for retail sales.
THE STRUCTURE OF employment growth in Ireland is changing, with employers opting for full-time instead of part-time jobs, according to a new report.
This shift is resulting in a strong boost for the retail sector. Sales have increased for nine consecutive months.
Savills’ new Ireland Retail Market in Minutes report notes that 76,000 new jobs have been added to the economy since a low point in 2012.
“We are now seeing part-time jobs being converted to full-time employment as the recovery becomes more deeply established,” Dr John McCartney, economist and research director at Savills Ireland, said.
As a result, consumer confidence and disposable incomes are improving.
McCartney said that recent jobs growth has driven consumer confidence to the highest level since the beginning of 2007:
“We see this reflected in increased sales of larger, more expensive items such as cars and furniture.”
CSO figures released earlier this week showed that almost 24,000 more new vehicles are on our roads so far this year, an increase of 30.9% compared to the same period last year.
Today’s report also touches on the retail property market, in which demand was focused ‘on prime high streets and shopping centres both in Dublin and in the main regional cities’.
“Despite stronger activity on the ground, relatively few new entrants have come to the Irish market,” chairman and Head of Commercial Division at Savills said.
Moreover, of these new arrivals, the majority are focusing on prime Dublin locations. However, as jobs growth and the housing market recovery diffuse from the main urban centres there will be a gradual improvement in regional markets.
A separate report by Morgan McKinley out this morning showed the professional vacancies in Ireland has increased in the last month and is up almost 20% since this time last year.
However, “significant differences” in salary expectations between jobseekers and employers exist.
This report also noted an increase in the number of permanent positions on offer.
Read: More professional jobs available – but wages offered are too low >
More: Six shopping centres up for grabs, going rate €120 million >
