{"id":5188,"date":"2023-09-08T11:16:53","date_gmt":"2023-09-08T11:16:53","guid":{"rendered":"https:\/\/www.recruit.ie\/careers\/?p=5188"},"modified":"2023-09-08T13:16:35","modified_gmt":"2023-09-08T13:16:35","slug":"business-activity-employment-in-dublin-remain-resilient","status":"publish","type":"post","link":"https:\/\/www.recruit.ie\/careers\/business-activity-employment-in-dublin-remain-resilient\/","title":{"rendered":"Business Activity & Employment in Dublin Remain Resilient"},"content":{"rendered":"

The latest Dublin Economic Monitor shows the capital’s business activity and employment remaining resilient, though some worrying trends lurk beneath the surface.<\/p>\n

Dublin’s unemployment rate held steady at 5% in Q2 2023, indicating a stable job market. Employment reached new heights as almost 795,000 residents were employed, a 3.1% annual increase. Public sector hiring drove much of this job growth.<\/p>\n

However, rising interest rates slowed housing construction, with new residential units commenced down over 30% versus last year. Consumer spending also showed signs of fragility as entertainment venues saw declines.<\/p>\n

Foreign direct investment into Dublin tapered off too, dropping 55% annually with 46% fewer new jobs created. The volume and value of Foreign Direct Investment projects retreated.<\/p>\n

While Dublin is so far avoiding major job losses, the data suggests rising economic uncertainty. Consumers are nervous, housing is slowing, and investment is down.<\/p>\n

Dublin’s solid 5% unemployment rate seems at odds with the prevailing sense of anxiety. The question is whether worsening economic prospects will eventually catch up with the capital’s job market.<\/p>\n

You can read the latest Dublin Economic Monitor here.<\/a><\/span><\/p>\n

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