Jobs surge evident in Waterford according to Bank of Ireland's 'Waterford Job Index'

- Pace of recruitment in Waterford outstrips Galway, Cork and Limerick

Recruitment in Waterford gathered pace in September following a fall off in demand in August, according to the latest Bank of Ireland Business Banking 'Waterford Job Index' which was released today, Monday, 10th October 2005. In total, 839 recruitment advertisements were placed in the local newspapers in Waterford in September.

This represents a 32% increase over August with strong demand for labour evident across all sectors with the exception of healthcare (-37%). The manufacturing sector (+88%) increased sharply, although evidence of a longer term trend will be required before the sector can be said to be in recovery. The education sector (+42%) doubled during what is traditionally a period of high demand as schools return after the summer break.

The construction (+62%), IT/Tech (+60%), financial (+58%) and professional sectors (+46%) also showed strong gains while there were more modest increases in the leisure sector (+18%) and in the retail sector (+19%) indicating renewed consumer confidence in Waterford.

The high demand for labour in Waterford is consistent with both the national trend which indicates that recruitment is at a record high and with other urban centres across the country including Cork, Limerick and Galway. In fact, the pace of recruitment in Waterford in September outstripped each of these cities.

The trends evident in the Waterford Job Index are also consistent with the latest Central Statistics Office (CSO) Quarterly National Household Survey which indicates a high demand for labour in the economy.

Commenting on the 'The Waterford Job Index' Pat Cullinane, Commercial Branch Manager Bank of Ireland Waterford said: 'The increase in the manufacturing sector of 88% is consistent with the Purchasing Managers Index issued earlier this week which shows some recovery in the sector with job creation at its fastest pace in 8 months. The rate of recruitment in Waterford compared to other urban centres is positive news for the local economy and is in part fuelled by new financial services and bio-tech firms choosing Waterford as their Irish base'

11th October 2005

For reference;

Anne Mathews
Media Relations Manager
Bank of Ireland Group
Tel: 01 6043836 / 087 2460358

Pat Cullinane
Commercial Branch Manager
Bank of Ireland Waterford
Tel: 051 -860116 or Mob, 086 8313338.

Note to Editors:

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