Continuing low unemployment makes incoming government’s capacity for significant infrastructure investment a challengeOn the jobs front, the economy remains close to full employment. The seasonally adjusted unemployment rate in December was 4.2 per cent. That was up marginally from 4.1 per cent in November but down from 4.5 per cent in December 2023.
The downside of that is that there is little capacity to deliver a dramatic increase in much-needed housing or wider infrastructure without importing the labour required. And that raises its own challenges and the outgoing Government discovered in the latter part of its term.Meta kills its fact checking programme and house prices keep rising
The Government issued a record 38,189 employment permits in 2024, up almost a quarter on the previous year, with close to a third of those for people to staff the health sector. The gap in output is stark, with the domestic economy delivering output of €61.50 per hour compared to €391.70 an hour in foreign-dominated sectors, such as pharmaceuticals and IT. And with Mr Trump returning to power, there will be understandable concern about that imbalance.UK 10-year borrowing costs hit highest level since 2008MOST READMan arrested at Dublin’s Connolly station after carrying shotgun on trainDepression came down on me like a terrible cloud.
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Ireland Rejected Arms Industry Despite Unemployment, Fearing Neutrality ThreatsDespite facing high unemployment in the 1980s and 1990s, the Irish government repeatedly rejected attempts by foreign companies to establish arms manufacturing facilities in the country. Concerns over jeopardizing Irish neutrality and facing international condemnation for potential use of Irish-made arms by oppressive regimes led to these decisions. The Dutch company Eurometaal NV's proposal for a shell factory in 1980 and German firm Thyssen Henschel's bid for a tank-making factory in 1982 were both rejected.
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