The number of job vacancies advertised in the national newspapers rose by 24 per cent in February, according to Bank of Ireland's Job Index. Emmet Oliver reports.

The index, produced by the business banking division, shows there were 19,060 recruitment advertisements published in newspapers during February, a 24 per cent rise on the same period in 2003. The statistics were taken from daily and Sunday newspapers.

The healthcare sector, which had been declining for almost two years, showed a "remarkable improvement" said the bank, with a 46 per cent increase in job ads between February 2003 and February 2004.

There was also strong growth in the manufacturing sector (up 141 per cent), the leisure sector (up 46 per cent), the retail sector (up 37 per cent), and continued improvement in the professional sector (up 18 per cent).

The construction sector also showed steady growth, up 7 per cent.

"The upward trend evident in our job index is a welcome indicator for business and shows improved confidence across most sectors of the economy," said Mr Tom Comerford, director of business banking at Bank of Ireland.

"All of the recent indicators have suggested a more favourable period ahead for business and the significant increase in retail recruitment indicates renewed consumer confidence. Construction and manufacturing, two key drivers of the economy, remain on an upward trend which augurs well for continued growth".

The bank, however, cautioned that certain sectors were still sluggish in terms of new job openings, with finance recruitment advertising down 10 per cent. Education recruitment dropped 12 per cent, while the IT sector was down 13 per cent.