In May, the technology, media, and telecoms sector in Ireland experienced its steepest employment growth in a year, as reported by AIB's latest PMI report. The sector's business activity PMI reached 54.1, indicating robust expansion despite a slowdown since April. This growth occurred against the backdrop of significant job cuts at Meta, which affected up to 350 jobs, or about 20% of its workforce in Ireland. While the overall services industry PMI also improved to 50.8, reflecting a slight recovery, concerns about future job security persist due to ongoing job cuts in the tech sector globally. AIB highlighted that inflation remains a concern, particularly in the transport and leisure sectors, where costs are rising due to various pressures, including fuel and wage increases. Despite these challenges, companies are optimistic about future demand and business opportunities, although confidence levels remain subdued amid geopolitical uncertainties.