Recovery remains ‘job-poor’

Ireland will have the fourth highest rate of growth in the EU next year but the recovery continues to be job-poor with sanctions on Russia now a major threat, according to employers.

BusinessEurope, the umbrella body of which Ibec is a member, has increased slightly its forecast for growth this year and next and predicts inflation will not rise above 2% other than in poorer eastern European economies.

Over the past five years the cost of labour has dropped by more than 8% in Ireland, exceeded only by Greece where it is down by 10%, according to figures released by BusinessEurope.