Dublin’s unemployment rate dipped slightly to 7.8% in the third quarter 2016 following an unexpected increase in the second quarter of the year.
This is according to the eighth issue of the Dublin Economic Monitor which has been launched today. A joint initiative of the four Dublin local authorities, the Monitor focuses on the Dublin region and tracks 15 key economic indicators. It captures data from the height of the boom to the economic crash and the subsequent recovery.
These indicators show that mixed economic signals have come to the fore from a combination of domestic and external factors and reflect a strong economy, which nonetheless is facing challenges on a number of fronts.
Employment levels in Dublin continued to rise with the most significant expansions in the industry and construction sectors.
Meanwhile, residential rents in Dublin showed mixed signs in the third quarter 2016 as rents for houses dipped, but rents for apartments rose in the quarter. Residential property price growth sharpened between July and October 2016 with prices returning to 2009 levels.
The monitor also noted that passenger arrivals at Dublin Airport reached a new monthly record of 1.17 million in September 2016.
Speaking at the publication of this issue, Economic Consultant at DKM Economic Consultants, Lorcan Blake said, "The latest indicators for the Dublin economy point to a strong performance with growth underpinned by an ongoing improvement in the labour market and robust business activity levels. However, the downward trend in consumer sentiment and stubbornly high residential and commercial rents are of concern."
Source: www.businessworld.ie
