Irish Business Outlook Looks Positive For 2016

Irish Business Looks Positive

Ireland’s economy is expected to continue its expansion throughout 2016 after posting growth figures of around 5% in terms of their GDP in 2015 according to the OECD. This growth is pleasing news to Irish business and it will also have the added bonus of being a benefit to the Irish population as well.

This growth in GDP will help to stimulate job creation and reduce the rate of unemployment further. Currently the unemployment rate has been falling since 2012 and in 2015 it reached the lowest level seen since 2008. Currently, the unemployment rate of Ireland stands at approximately 8.8% according to statistics formed by Eurostat in December 2015.

A Strong Employment Market For Ireland

The predicted rise in GDP will hopefully reduce this unemployment rate even further. A report from Morgan McKinley that surveyed more than 40,000 professionals in Ireland found evidence that will point to a stronger employment market in 2016.

In their report, it also noted that they found an increase in salary levels of around 10%, which is welcome news to many but should also be viewed with caution. Areas that demand skilled workers could potentially see higher wages increases to meet with the increased need.

Irish Business Balancing Out The Genders

Women in Irish Business

Women are balancing out the genders in some areas

There should also be more focused effort to try and attract women back to work through certain schemes, however there is evidence that more women are becoming involved in areas that are male dominated. In particular, food production was noted to see an evening out of the gender balance. This was due to more women arriving into the industry through university degrees and also research programmes.

As well, the gender balance in the HR industry is often weighted towards women in the mid-career level. Morgan McKinley found evidence that this is slowly beginning to change and women are moving into more senior roles, proving to be pleasing news for business.

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Sarah Jubb
Sarah Jubb

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