Job churn rate slows with staff 'more cautious about switching roles'
The total number of jobs created during that three month period was 124,087, an increase of 12,682 year-on-year. Picture: iStock
The job churn rate slowed toward the end of last year, compared to the same period in 2023, as employees become “more cautious about switching roles” due to “economic uncertainty or a greater focus on job stability".
Data from the Central Statistics Office (CSO) shows that the job churn between October and December stood at 377,572 — down 5.7% when compared to the same period in 2023. This equates to a job churn rate of 13.1%, compared to 14.4% the year prior.
There were 312,873 hirings during the final quarter of 2024, with 341,699 job separations.
The total number of jobs created during that three month period was 124,087, an increase of 12,682 year-on-year, while there were 152,913 job destructions — which is an increase of 2,126.
Just over 2.5m people stayed in their current employment in the same period.
Sinead Cullen, the director at advisory company NFP Ireland, said the slowdown in job churn aligns with “what we’re seeing in the market” where people are “more cautious about switching roles, possibly due to economic uncertainty or a greater focus on job stability".
"For employers, these trends reinforce the importance of strong employee benefits and retention strategies," she added.
The highest job churn rate was recorded in the administrative and support service sector, at 26.0%. The lowest rate, 7.8%, was recorded in the information and communication sector.
