DAVY VIEW

Despite last week’s upward revisions to the unemployment rate, the latest employee payrolls data for June suggest continued strength for Ireland’s labour market in 2025. With typical upward revisions to monthly payrolls data factored in, we estimate that growth picked up to 2.5% in Q2 from 2.3% in Q1. We find that growth remains stronger for higher-wage sectors relative to lower-wage sectors, while payrolls growth for younger adults increased.