7 Feb 2019

Dublin's employment rates at highest level in 20 years

Employment rates in Dublin are at their highest level in 20 years.

The latest Dublin Economic Monitor shows almost 700,000 people are now employed in the capital, an increase of 33,000 in just over a year.

Tourism in the capital is up over 14%, owing to an increase in visitors from the US, Germany and China while retail sales are up 7% on the previous 12 months.

In the housing market, residential rents are now at record levels while the cost of property continues to rise, but at a slower rate.

Senior Economic Development Officer at Dublin City Council, Steven O'Gara, says the high rate of employment in the capital is down to a mix of international and indigenous companies.

"This is a hugely positive bounce back in the story of the recovery and the creation of jobs, predominantly by small and medium enterprises in the Dublin city and region," said Mr O'Gara.

"But also the international cohort of FDI [foreign direct investment] who are coming in and creating jobs. We're seeing almost continuous updates over the last couple of weeks of large scale foreign direct job creation coming into the city and region."

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