Irish economy

Irish employment just shy of 2007 peak

  • Mar 14 2018, 12:30 GMT
  • Research Report
  • 4 page(s)

DAVY VIEW

As expected, the Irish labour market had another strong quarter of growth in Q4 2017, with employment rising by over 3% on the year and unemployment falling to 6.4%. Monthly data suggest no let-up in the pace of growth in 2018, with unemployment declining to 6.1% in February. The bigger picture is that employment is now just shy of the 2007 peak at 2.23m; however, with the population much larger than a decade ago and immigration flows accelerating, the labour market recovery is far from complete. Irish property prices were up strongly in January, with annual growth accelerating to 12.5%, but we still expect a moderation in annual growth to a single-digit pace in 2018 as Central Bank rules begin to constrain leverage in the mortgage market.

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Mar 14 2018, 12:30 GMT

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