The group says that Ireland\u2019s economy has \u201cfirmly moved into a \u2018post-recovery\u2019 stage\u201d with \u201chouseholds clearly benefiting from rising incomes\u201d and a strong labour market underpinning employment.
\nIbec says that 19% of people either started working or changed jobs last year, something that points towards the health of the labour market.
\n\u201cWith the economy approaching full employment the biggest challenge facing the Irish labour market will be finding workers to fill vacancies,\u201d the report states.
\nFeedback from Ibec member companies suggests that firms are now finding it increasingly difficult to attract and retain talent. We have pointed out in previous editions of this publication that the outlook for net migration is not as strong as it was in the mid-2000s.
\nDespite these positive indicators, Ibec warned against complacency and pointed to \u201cexternal threats\u201d as a potential problem for Ireland\u2019s economy.
\nAs well as the impact of Brexit, Ibec says that a potential US-EU trade war also presents a risk for the economy.
\nTariffs on steel and aluminium imports\u00a0first introduced by the US and then by the EU in the past three months\u00a0will have an affect on Ireland because of its dependency on US steel, Ibec says.
\nThe group points out that Ireland\u00a0has the highest dependency on US steel in the EU.
\n\u201cRoughly 7% of our steel imports come from the US. This is driven by US multinationals such as medical device manufacturers using familiar suppliers in the US for intermediate goods,\u201d Ibec states.
\n\u201cOf total steel imports from the US, 40% will be subject to EU import tariffs. This will increase costs for businesses involved. If the trade war escalates further, Ireland has a lot to lose.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
In its latest quarterly report, Ibec has predicted economic growth of 5.7% this year, ahead of similar forecasts by both the government and Central Bank, but warned of a number potential risks. The group says that Ireland\u2019s economy has \u201cfirmly moved into a \u2018post-recovery\u2019 stage\u201d with \u201chouseholds clearly benefiting from rising incomes\u201d and a strong […]<\/p>\n","protected":false},"author":1614,"featured_media":43519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9350],"tags":[12909,12127,9831],"class_list":["post-43518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english","tag-brexit","tag-biznes-v-irlandii","tag-ssha"],"yoast_head":"\n