DAVY VIEW

June’s employee payrolls show a strong and steady performance for Ireland’s labour market in Q2, unlike last week’s survey-based findings. As we noted earlier this week, the survey’s weakness is likely to mean upward revision to population and migration estimates since 2022 after next year’s Census. Administrative tax records underpinning the payrolls data also showed limited cause for concern in Q2 job-churn figures. Overall, Ireland’s labour market is on course to outperform most forecasts again this year.