There is reason for celebration in Cork this week after new economic analysis has revealed that the South West has enjoyed a stronger rebound in employment than the national average.
At an Economic Briefing in Cork today, leading economist Seamus Coffey laid out the successes that the county has experienced in recent months. He has analysed the economic trends in the Cork area using traffic volumes, employment, rents and the presence of multinationals.
He claims that that Cork city and county have seen a faster than average drop in numbers signing on the Live Register.
The Economic Briefing event, which was hosted by RTE Media Sales, Hopkins Communications and the Clarion Hotel, saw David Murphy, Business Editor at RTE News, chair an in-depth discussion on the extent of ‘The Recovery’ around the regions, with a special focus on Cork.
Research shows that employment nationally has grown 2.9% in the past 12 months – while the South-West Region (Cork & Kerry) has outstripped this at 3.3%, with increased employment of almost 10,000.
Furthermore, rents countrywide are up 9% in the last 12 months – rents in Cork city have risen by 13.5%, and 10% in the County.
Vice-President & MD at EMC Ireland, Bob Savage said, "As evidenced by the study’s findings, the economic recovery in Cork has been hastened by a strong economic base built on skilled employment, a pro-business entrepreneurial culture and investment by both Cork-based and multinational companies.
"EMC's operations in Cork, and the Cork facility’s role in international business, depend heavily on Cork’s tight network of suppliers, its access to an educated workforce and its infrastructure. Our mutually beneficial relationship is driving growth in the region, and echoes the experiences of other Cork businesses."