Recent data from the CSO gives the Irish population at 5.5 million in April 2024 up by 41% since 2001. This is a very rapid rate of population growth. By contrast EU population grew by 5% in the same period. Migration is the key factor and has provided 54% of the total. As is to be expected migration likely also accounts for a high proportion of the increase in jobs. In the year to April 2024 net migration of over 25 year olds, presumably mostly coming to work, was the same as the total increase in employment - 50,000. Over the time since 2001 this age cohort of migrants was equal to about 54% of the increase in employment and suggests about half of employment growth is accounted for by migrants.

The latest 'flash' estimates of inflation in August from Eurostat indicates that the decline in inflation, which seemed to be held up in July, has resumed, The rate for the Eurozone was 1.5% in the year to August (2.2% in June and in July). In Ireland the rate was 1.1% (1.5% in June and July). A decline in ECB interest rates, which seemed doubtful last month, now seems certain in September. In the US, where inflation has been around 3% there had been doubts about an interest rate cut. But poor employment figures have changed that so a cut in rates on both sides of the Atlantic now seems imminent.

Slower growth in the world economy in 2023 took its toll of the Irish economy, especially the foreign owned sector. But there is general agreement amongst economic forecasters that this year and next will see a recovery with growth rates of 2.5% to 2.5% depending on which measure is used and who is doing the forecasting. The situation with respect to inflation is very positive. This year will see the rate of increase in consumer prices fall by half to two thirds from 2023's and to continue subdued in 2025 and 2026.