Hot Irish Labour Market Coming Off the Boil
by AIB Treasury Economic Research Unit
- Irish labour market expanded at a more moderate pace in Q1, but the data still point to robust growth in the Irish economy at the start of 2024.
- At a sectoral level, the out-turn was mixed, with nine sectors seeing annual increases and five sectors falling.
- Unemployment remains exceptionally low falling to 4.3% in Q1 2024 from 4.5% in Q4 2023 with other measures of
labour market “slack” pointing to very tight labour market conditions.
- Next week’s CSO earnings and labour cost statistics will give a fuller picture of the labour market, with employer demand likely to have cooled further in recent months from the exceptional post-COVID highs.
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