Tuesday 6 December 2016

We can't afford to ignore the ill economic effects of immigration

Published 24/11/2016 | 02:30

Immigration has an impact on the housing and rental markets
Immigration has an impact on the housing and rental markets

Tuesday's jobs figures were the most important indicator of what has been happening in the Irish economy since our neighbour's Brexit referendum. Even before the vote in late June, there had been signs that the pace of recovery in the Irish economy was slowing. In the months following the decision, there were further signs of an economy losing steam.

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Consumer spending, factory production and - most importantly from a political perspective - tax revenues have been either stagnant or down on recent high points. These trends raised concerns that jobs growth would also slow in the July-September period.

That is exactly what happened, even if Tuesday's figures showed that the slowdown was not of a magnitude that would have caused yet another red light to start flashing in the Finance Department.

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