What the Dáil needs to know about a report on the Irish economy

In what is likely to be the last report on Ireland’s economy in the Dail, the Irish Examiner reports the latest data from the European Commission.

The Commission said on Wednesday that growth in GDP per capita for 2015-16 was 2.7%, down from 2.9% in 2014-15.

It also reported that Ireland was the only EU country that had a GDP per head (GDP) of less than €100,000, down from €104,000 in 2014.

Ireland had a relatively high unemployment rate of 8.5% in 2015, compared to the EU average of 6.3%.

The Irish economy expanded by 0.5pc in the third quarter, with an overall growth rate of 0.4pc.

However, the country is still lagging behind the UK, where the economy expanded 3.6pc in Q3, up from 2pc the previous quarter.

In terms of GDP per person, the Republic grew by 1.2pc in 2015-2016, compared with 2.2% for the UK.

According to the Irish Independent, the economy will contract by 0 and 3.4 per cent, respectively, in the next two years, as a result of the Brexit vote.

Irish finance minister Michael Noonan told the Irish Times that the figures are still in line with previous years.

“These are the numbers of jobs that are available and jobs that we’ve had in recent years, that have gone to people in the economy and the services sector.

We are at the same level of employment as we were before Brexit, which was a pretty significant result,” Noonan said.

EU statistics agency Eurostat said on Tuesday that Ireland had gained 7,400 jobs in the year to March 31, down slightly from 7,834 in the previous three months.

Its employment figure is a composite of jobs created and people left to look for work, which accounts for less than half of total employment.