Irish consumer sentiment dips slightly on tech job losses

DUBLIN (Reuters) – Irish client sentiment dipped barely in November as individuals grew involved about job losses within the nation’s tech sector, a survey confirmed on Monday.

The Credit score Union Client Sentiment index fell to 45.3 from 46.1 in October, having recorded a 14-year low of 42.1 in September even because the financial system continued to develop within the face of the rising price of dwelling.

Overseas-owned corporations make use of greater than 275,000 individuals in Eire, or one in 9 staff, and the survey’s authors imagine that current job losses within the massive multinational tech sector are including to client warning.

However additionally they detected a component of resilience within the Irish studying compared with the USA, the place lots of the tech layoffs have been introduced. The US suffered a big and surprising drop in client sentiment this month.

The well being of the Irish jobs market lately, coupled with reviews of serious unfilled vacancies and talent shortages in tech-related areas, is producing “a extra measured if nonetheless materials quick response to the spate of job losses seen throughout the November survey interval,” the authors stated.

(Reporting by Graham Fahy, modifying by Padraic Halpin and Jane Merriman)