Survey Results
At the close of 2023, Cork Chamber asked members about their experience of the most recent business quarter, Q4 2023 (October, November, December). This Economic Trends Q4 2023 captures a snapshot of business experiences and of the overall operating landscape in a period which saw a stream of investments as well as expansion announcements from some of the biggest employers in the region.
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Businesses are grappling with pervasive skills gaps evident across various sectors and professions. Particularly noteworthy are the acute skills gaps prevalent in science, engineering, and technology professions. Beyond these sectors, the survey results highlighted significant skills deficits in finance, marketing, sales, and customer service.
View more skills gap results
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Despite international instability which has impacted supply chains, market dynamics and overall economic conditions, confidence in the Irish economy has exhibited resilience throughout the fourth quarter. Rising business costs are the top reason for a lack of confidence in the economy cited by 21% of business respondents, followed closely by housing supply (20%) and inflationary pressures (13%).
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39% of respondents reported difficulties in filling vacancies over Q4 2023. Despite this challenging labour market, 47% of respondents plan to increase employee numbers over the next 12 months and only 1% expect them to decrease.
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Specialist skills shortages have consistently remained the foremost obstacle in filling vacancies and continue to pose challenges to 67% of respondents. The availability of housing has been highlighted as the second most prominent challenge to filling vacancies (19%) followed by wage demands (11%).
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View more stats and results from our latest Economic Trends, which capture a snapshot of business experiences and of the overall operating landscape at the close of Q4 2023.
Browse results here
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Shine Centre for autism is this quarter's nominated charity to receive a €200 gift card.
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