A new data series from the Central Statistics Office , based on Revenue payroll records, shows that employment in the ICT sector increased from 97,800 at the start of 2019 to 123,300 this August.Meanwhile, job numbers in the professional, science and technology, which includes professional services as well as research activities many of which are linked to multinationals, rose from 127,000 to 150,100 over the same period.
Facebook, owned by Meta, has also reported strong growth in international hiring and its activities also support many contractors and staff seconded from some professional services firms, as well as wider spending in the economy. With many employers still saying that it is impossible to find staff, this trend may reflect both a labour shortage in some sectors and the start of a weaker trend in others.A key issue will be whether this weakness spreads and how significant it is. Job numbers in ICT were still rising in August, though the rate of growth was slower in the first eight months of this year than in the same period in 2021.
A key issue for Ireland is whether this is just a temporary readjustment or something which could take a few years – and whether any big employers in particular will be shown to be particularly exposed. While the tech sector is facing challenges, the other big provider of corporate tax revenues – pharma – still appears to be doing well.
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Impact in Ireland unknown as Meta job losses expectedAround 3,000 people are directly employed by Meta in Ireland and an additional 6,000 people support its operations here wonder how intelligent this new AI both twitter and facebook seems to have, of previous experiences the need huge upgrades and no where near ready to replace humans in moderation
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