The jobs market could be set for an encouraging year, according to the latest statistics from Bank of Ireland.
The Bank of Ireland Business Banking Job Index for December shows an increase of 14 per cent in the number of jobs advertised over the same period in 2002.
The bank said the figures represented "good news for the economy" as several sectors appeared to be gearing up for a busy year.
A spokesman said the figures also reflected the "market experience" of Bank of Ireland's business banking operation which was engaged in strong lending activity throughout 2003 and expected this to increase in 2004.
The index measures job advertisements in the national daily and Sunday newspapers. In terms of sectoral movements between December 2003 and 2002, the sectors where job advertisements increased were manufacturing (140 per cent), financial (82 per cent), leisure (68 per cent), IT/tech (43 per cent), construction (29 per cent) and retail (16 per cent).
The sectors with decreasing job opportunities were healthcare (15 per cent) and education (2 per cent).
Commenting on the findings, Mr Tom Comerford, director, Bank of Ireland Business Banking said: "Business funding demand levels continue to reflect this increased confidence and we are expecting a very positive start to 2004. It is encouraging to see the traditional manufacturing sector turning a corner in the latter part of the year and also the IT industry, which is starting to show signs of recovery."
In examining the trends, Dr Dan McLaughlin, group chief economist, Bank of Ireland said: "The index gives a clear overview of trends in the Irish labour market in 2003. The first six months of the year were characterised by a softer tone in recruitment, with significant weakness evident in manufacturing and the IT sector offsetting resilience in public sector recruitment in education and health. This picture was consistent with the trend in unemployment in the period, with the unemployment rate rising from 4.3 per cent at end 2002 to 4.5 per cent by mid-year."
