CSO Data: Jobs Growth Stalls, Losses Accelerate
- The concerns raised by Neil Hughes are particularly noteworthy.
Irish Job market Shows Signs of Strain: New Job Growth Slows, Destructions Rise
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Dublin, Ireland – November 29, 2025 - Recent data reveals a concerning trend in the Irish job market. While the economy continues to add jobs,the rate of growth has slowed considerably in the second quarter of 2025,while the number of jobs lost has spiked. This, coupled with warnings from industry experts about distress within the SME sector, raises concerns about a potential downturn.
Key Findings from Q2 2025 Data
The central Statistics office (CSO) data released today paints a mixed picture. While 172,643 new jobs were created,this represents a decrease of 1,369 compared to the same period in 2024. Concurrently, “job destructions” – the number of jobs lost - reached 88,935, a 9.4% increase year-on-year.
Here’s a breakdown of the key figures:
| Metric | Q2 2025 | Q2 2024 | Change |
|---|---|---|---|
| New Jobs Created | 172,643 | 174,012 | -1,369 |
| Job Destructions | 88,935 | 81,288 | +9.4% |
| Separations from Primary Employment | 128,328 | N/A | N/A |
The data also shows 128,328 separations from primary employment – individuals leaving thier jobs – in Q2 2025.This figure,while not directly comparable to previous years due to changes in data collection methodology,suggests a level of employee turnover and potential dissatisfaction within the workforce.
Slowing Job Churn: A Sign of Caution?
Traditionally, a healthy economy sees a critically important amount of “job churn” – people voluntarily leaving positions for better opportunities, frequently enough with higher pay. However,the latest data indicates a slowdown in this trend. This could suggest that employees are becoming more hesitant to switch jobs, potentially due to increased economic uncertainty.
Why does job churn matter? High churn can indicate a dynamic, competitive labor market. Low churn can signal stagnation or fear of job security. A decline in churn, combined with rising job destructions, is a worrying combination.
SME Distress: A Warning from the Front lines
The CSO data is corroborated by anecdotal evidence from the business community.Neil Hughes, a high-profile accountant at Azets Ireland, warned on Friday that data from his firm’s client base of 4,000 SMEs points to significant financial distress. Hughes specifically highlighted the retail and hospitality sectors as being particularly vulnerable.