Economy continues on upward trajectory as unemployment reached record low since the boom

May 2019

Economy continues on upward trajectory as unemployment reached record low since the boom

Economy continues on upward trajectory as unemployment reached record low since the boom
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However house prices now showing signs of a slowdown.

For the first time in the series history, Dublin’s workforce reached 700,000 at the end of 2018. A previous peak in employment was recorded at the cusp of the economic crisis in Q4 2007 when the workforce in the Capital peaked at 652,000, some 48,000 fewer than the current level. One of the key differences between then and now is the contribution of the construction sector to the overall workforce. Twelve years ago the construction sector made up 7.7% of the total Dublin workforce. Today it is closer to 4.5%.
Read more in our May 2019 issue of the Dublin Economic Monitor.

Other special articles this quarter include one from Dr. Robbie Blake, Director – Centre for Sports Economics & Law, University College Cork – exploring the Economics of Sport. Peter Byrne, CEO South Dublin Chamber and describes their collaborative and award winning Sustainable Business Program.

You can sign up to our quarterly mailing list and access the Monitor resources online at www.dublineconomy.ie.

Economy continues on upward trajectory as unemployment reached record low since the boom
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Key quotes

With all the economic uncertainty, volumes through Dublin Port are remarkably robust and underpin the need for us to continue to invest in additional port infrastructure guided by our own Masterplan 2040 and by Project Ireland 2040.
Eamon O'Reilly Chief Executive of Dublin Port
Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed to 3.7% YoY (SA) and in Dublin sales growth slowed to 4.3% YoY (SA). Tourist spending continued its strong performance rising by 15.1% YoY (SA). Weakness in spending from the UK was offset by an acceleration from other major regions. Overall spending growth, outside of the U.K., looks like it has very positive momentum heading in to the high Spring and Summer season.
Michael MacNamara Global Head of SpendingPulse Mastercard

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