More investment in skills is needed if Ireland is to avoid the Great Resignation trend. Photograph: iStockThe two main topics of conversation in global business right now are inflation, and its knock-on risks for the economy, and the scarcity of workers. The Great Resignation is a very real phenomenon in the US, and a factor which has significantly curtailed the economy’s post-Covid bounce-back.
Ireland’s standout post-Covid labour market recovery is evident across a broad range of economic sectors, with just a few notable exceptions. Technology workers are desperately sought after internationally and most tech companies have large numbers of unfilled vacancies. The number of people working in the Irish tech sector, however, has jumped by one-third since the first quarter of 2020.
A notable development during Covid was the growth in youth employment , which jumped 20 per cent in two years, three times the growth rate for the overall population. Favourable demographics and an ability to attract mobile talent have been key drivers of Ireland’s economic success in recent decades, and our growing workforce has been the envy of other EU member states. We have again outperformed other countries during Covid and have created net new jobs at a spectacular pace. Business, stakeholders and government will need to collaboratively address a range of issues, however, if we are to achieve continued success in a world of slowing labour supply.
IrishTimes Ireland is behind in educating its people for the high tech world. Technology businesses have to import workers. How does this help raise up the Irish people? All it does is provide low wage, low skilled jobs in the service sector, and keep the number of ppl on the dole high.