In the first Economic Trends survey of 2024, sponsored by PTSB, Cork Chamber asked members about their experience of the most recent business quarter and also for their views on the provision of childcare services in Cork and the impact it is having on their employees. 

Confidence in the Irish economy has dipped compared to Q1 2023. 77% of business respondents expressed a positive outlook regarding the economic outlook compared to 85% this time last year. Rising business costs (24%), housing supply (19%) and skills shortages (14%) were cited as the top reasons for lack of confidence in the economy.

Almost one quarter of respondents (23%) cited that the availability and affordability of childcare provision is impacting staff, with another 23% of respondents acknowledging they are unaware if it is an issue.

In addition 63% either agree or strongly agree that childcare disproportionately affects women in the workforce.

While 43% of business respondents report plans to increase employee numbers over the next 12 months, there has been slight rise in those planning to decrease employee numbers (rising from 1% last quarter to 7% in Q1).

At the end of Q1, 49% of business respondents had vacancies advertised (41% in Q4). 42% of them were having difficulties in filling them (i.e. remaining unfilled for more than 3 months since initial advertisement) compared to 39% last quarter.

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 Q1 2024.

Meitheal Mara is this quarter's nominated charity to receive a €200 gift card.