DAVY VIEW

The Irish unemployment rate was steady at 4.3% in September, a reassuring sign that jobs growth has likely continued through the summer despite the economic uncertainty of surging energy prices, the war in Ukraine and the threat of a European recession. However, the PMIs and Bank of Ireland Business Pulse survey do point to a softer pace of jobs growth in the coming months; this is inevitable given growing evidence that the labour market is tightening, accompanied by skills shortages.