THE PHARMACEUTICAL industry might be small, but it's a welcome niche in the market - it's still generating work for Ireland's recruiters.
"Pharmaceutical and chemicals are holding up okay," says Frank Collins, head of the National Recruitment Federation. "There are no lay-offs but they haven't got the massive staff numbers - but when people leave they do have to be replaced.
"You do have areas across the economy doing badly where demand for goods and services has dropped, but in sectors which are low labour intensive, by and large when somebody leaves they're going to have to be replaced," says Mr Collins.
Premier Group's annual salary report identifies the pharmaceutical sector as one of the remaining strong performers in the Irish economy. There is a trend for "increased demand for experienced professionals", the report says, and Ireland can't keep up with demand for specific skills.
"Companies have started to benefit from the value of attracting foreign professionals in certain highly specialised fields," the report says.
The pharmaceutical industry is one of the areas experiencing an upside to the recession, says Michael McDonnell, the head of the Chartered Institute of Personnel and Development.
It will force Irish businesses to address its "dreadfully uncompetitive" approach, and highlight the importance of smart industries - like the medical and pharmaceutical fields.
"The dramatic decline in sterling is going to put pressure on the Irish cost base, and that will be a blessing in disguise, because we are dreadfully uncompetitive.
"But no matter how competitive we get, we can't go back to the old days of competing in areas of relatively low labour costs. In the future it's important to look to those high added-value type of industries, like medical devices and in the biopharma area," says Mr McDonnell.
"The whole pharma area is one to which Ireland is particularly suited. We've got very high education levels and also a long tradition of having pharmaceutical firms in the country - the experience has been quite positive with Abbott, Boston Scientific, Wyatt. It'll be an area to watch," he says.
