[ad_1]
The strength of the Irish economy was highlighted on Tuesday with new figures showing that unemployment dropped to 5.1% after the accident and that the Exchequer's returns exceeded year budget targets.
Exchequer figures indicate significant tax revenues, with the government collecting just under 25 billion euros in taxes during the first six months of the year
] 5.4% more than last year.
However, the rapid increase in public spending, especially in the area of health, is now a major concern.
The figures show that gross current expenditure voted increased by 6%. to 27.5 billion euros for the same period last year, mainly due to a 9% increase in health spending.
"This only illustrates the reality that the government has chosen to delay the achievement of a budget surplus," David McNamara, Davy's badyst, said, "This raises concerns the erosion of spending discipline in high-spending departments, "he added
however, the lowest unemployment rate ever recorded in the Republic since October 2007 just before financial crisis.
Unemployment dropped more sharply than predicted by department.
In its recent summer economic report, the department had the average rate of 5.8 percent for 2018, though 39, before a substantial downward revision by the Central Bureau of Statistics in May
The latest official figures indicate that the seasonally adjusted number of unemployed was 120,200 in June, compared with 123,100 the previous month. decreased by It was 10 percent above its peak of 15.9 percent in December 2011 after the crisis.
The recovery means that the unemployment rate in Ireland is now 3 percent. The figures show that the seasonally adjusted unemployment rate for men was 5.1%, compared to 5.2% in May and 7.2% in June 2017, and 5.2%. The youth unemployment rate in June was 11.4%, compared with 11.8% in May.
The Institute for Economic and Social Research estimates that the youth unemployment rate is down 5.9%. 5% is almost equivalent to full employment in the Republic. However, it fell to just under 4% in 2001.
"The unemployment rate is now lower than the one expected by the Department of Finance next year, indicating that growth in the labor market is work is above expectations. " Tara Sinclair, economist with a recruitment site indeed
"Indeed, research shows that the pace of recruitment in Ireland is intensifying, with sectors such as construction, hospitality and finance looking to hire more staff. " 19659002] Ms. Sinclair also noted that the tightening of the labor market was already fueling higher wages and that this trend was likely to continue.
Source link
