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Ireland was hit hard by the financial crisis and the labour market has yet to fully mend. The unemployment rate more than tripled from 4.6% in Q1 2007 to its peak of 15.1% in Q4 2011.
After three years of sacrifice, hard work and difficult reform, Ireland has fought its way out of the depths of the financial crisis to become one of the fastest-growing economies in Europe and one of the best countries in the world in which to do business.
Ireland is one of the best performing donors when it comes to directing its development aid to the world’s neediest countries, according to a new OECD report.
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The Irish government has taken resolute action to address the unemployment challenge, launching the Action Plan for Jobs (APJ) initiative in early 2012. Drawing on the expertise and experience of OECD member countries, this preliminary review examines key aspects of the Action Plan for Jobs and highlights some key policy priorities to boost job creation.
The average worker in Ireland faced a tax burden on labour income (tax wedge) of 26.6% in 2013 compared with the OECD average of 35.9%. Ireland was ranked 28 of the 34 OECD member countries in this respect.
The Prime Minister of Ireland, Taoiseach Enda Kenny TD, and Deputy Prime Minister Tánaiste Eamon Gilmore TD, visited the OECD on 7 February to discuss Ireland’s economic recovery and its partnership with the Organisation as a key ally supporting their reform agenda.
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This report on seeks to provide guidance on the design and delivery of a Youth Guarantee in Ireland based on the experience of other countries in designing guarantees or other comprehensive policy packages to help youth find productive and rewarding employment.
Ireland should increase its resources to detect and investigate foreign bribery more efficiently. Resources have, in recent years, been largely devoted to investigating non-bribery cases in the financial sector. Ireland has not prosecuted a foreign bribery case in the twelve years since its foreign bribery offence came into force, and law enforcement has taken few proactive steps to investigate allegations.
Ireland leaves the three-year EU/IMF programme of assistance today Monday. Our economy is growing, our finances have stabilised and unemployment is coming down. Our strategy is working in Ireland, and our people are getting back to work.
Irish youth was hit hard by the crisis. New labour-market policy initiatives have been introduced recently, but more will be needed to limit scarring effects and keep youth connected so that they can get back to work as soon as the recovery strengthens.