[Ireland] Payroll levels suggest early signs of tech sector stress

In Ireland, Official figures suggest that early indications of the stress facing tech firms are growing more evident, even as monthly payroll employment across the economy grew by 6,300 in January, Irish Examiner reports.

The Central Statistics Office (CSO) statistics show the number of employees working in information and communication - which can be used as a proxy for technology employers in Ireland - was one of the sectors with a fall in payroll employment levels in January.

Overall payroll numbers, however, reportedly increased by 6,300 from December and were up notably, by 108,600, from January 2022. 

The increases specifically reflect significant employee increases in hospitality where employee levels jumped 12 per cent from a year earlier. These are now higher than before the onset of the pandemic, according to the CSO employment index which is based on monthly payroll estimates. 

CSO statistician John Mullane said six economic sectors "saw monthly increases in the numbers employed in January 2023 and two remained unchanged."

He added that seven sectors posted had employment declines in January from December, with "the largest monthly decrease in agriculture, forestry, and fishing".

Source: Irish Examiner

(Quotes via original reporting)

In Ireland, Official figures suggest that early indications of the stress facing tech firms are growing more evident, even as monthly payroll employment across the economy grew by 6,300 in January, Irish Examiner reports.

The Central Statistics Office (CSO) statistics show the number of employees working in information and communication - which can be used as a proxy for technology employers in Ireland - was one of the sectors with a fall in payroll employment levels in January.

Overall payroll numbers, however, reportedly increased by 6,300 from December and were up notably, by 108,600, from January 2022. 

The increases specifically reflect significant employee increases in hospitality where employee levels jumped 12 per cent from a year earlier. These are now higher than before the onset of the pandemic, according to the CSO employment index which is based on monthly payroll estimates. 

CSO statistician John Mullane said six economic sectors "saw monthly increases in the numbers employed in January 2023 and two remained unchanged."

He added that seven sectors posted had employment declines in January from December, with "the largest monthly decrease in agriculture, forestry, and fishing".

Source: Irish Examiner

(Quotes via original reporting)