Monday, January 13, 2014

Ireland's Economic Recovery Accelerates

The Irish are a solid lot. Even in the face of extreme economic hardship and negative sentiment we all tend to put a rather obtuse smile on our faces and do what we can to weather the storm. Mind you, after five years of recession, tax rises, falling income, high unemployment, and being told almost daily that worse is yet to come, we can't help but bitch occasionally about our situation.

But - and a big but - Ireland's prospects seem to be improving dramatically. At the end of last year - only days ago - Ireland regained economic sovereignty with the withdrawal of the so-called Troika of European banks that had propped up the country's cashflow requirements by lending us billions of euro. Late last week, Ireland's central bank went to the market to raise a few bucks all by itself. The result was tremendous: Irish bonds on offer were over-subscribed so much so that our central bank could have sold 3 to 4 times the amount that was on offer. Even more significantly, the demand for our bonds was so great that it pushed down interest rate borrowing costs to just over 3 percent. Not bad when you consider that when the country left the free market a few years back, borrowing costs were tipping 17 percent.

Even today, the Irish public received more good news: a survey of Ireland's business owners and managers found that a majority anticipate increased revenue and profit growth in the short-term. With any luck, this will also translate into increased employment over the next year.

It's about time we had some good news. For five years we've only had reasons to grouse. Today, Ireland's economy finally seems to be steaming back to recovery.

Prospects for Employment Improve

Many visitors to this blog (and believe it or not I've received over 36,000 page views since I started writing this) come here for one reason: to determine how they might get a job in this country. In fact, Job-related posts in Surviving Ireland receive by far the most visits.

So for those of you thinking of moving here and finding a job, there at last seems to be some positive news. But do keep in mind that Ireland's unemployment rate, while slowly falling, is still hovering around 12.5 percent. That means that some 300,000 Irish people are still looking for work, which presents some astounding competition. That said, if you desire to move here things really do seem to be picking up.

Industries seeing growth: if you're attempting to discover industry areas that offer opportunity, then check out this report: It reflects what I've written previously. But if you have skills in these areas, you are obviously more likely to find a position.

Turning on a dime: remember too that Ireland is a small, open economy. In bad times, the country's economic performance can plummet like a brick. But in good times, the reverse is also true: Ireland can rebound quickly. This is exactly what happened in the recession of 2001. The country turned around so quickly that it took most of us by surprise. And I suspect that this is what is going to happen this time.

If you're hoping to work in Ireland, now is the time to start to network. If based abroad, check out the wide range of employment websites devoted to Ireland simply by Googling Jobs in Ireland or any relevant subset (nursing jobs in Ireland, IT jobs in Ireland, etc). Make sure that you've polished your CV to highlight relevant skills and experience. Contact the relevant employer prospect. Then, if you're truly serious about this, get over here. The chances of landing employment over the Internet are small (mind you, anecdotal stories suggest that high in-demand skills such as the medical profession can indeed land employment without a face-to-face meeting.)

If you're serious about finding a job in Ireland, now would apparently be the time to really start looking. Good luck!

Want to learn more about living in Ireland? Are you thinking of traveling to Ireland or moving to Ireland? If so, you might consider the purchase of the 2014 Kindle ebook edition of A Survivor's Guide to Living in Ireland. Now 80,000+ words long, and having sold over 10,000 copies in its various editions, it could make the perfect gift for those interested in this wonderful country. Simply click on any of the links above to purchase this new Kindle version. You can also download various free aps to read this Kindle version on any PC or Mac. 

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