The productivity of the Irish people still in work was a third higher than the EU average last year, a new report has revealed.
By Robert Carry
The CSO report, Ireland’s Progress in 2009 which was released last night, measured GDP per person employed and found that Ireland had the second highest GDP per capita in the EU 27 – at 31 per cent above the EU average.
As Irish employees work longer hours, the productivity per hour worked is relatively lower, but is still about 4 per cent above the EU average.
The report also found that during 2009 GDP fell sharply for the second year in a row, the public balance deficit was the highest of any EU member state, and government debt increased to nearly two-thirds of GDP, having been only a quarter two years before.
The employment rate fell below the EU average, and our unemployment rate was the sixth highest rate in the EU. While inflation fell in 2009 – the only other EU states with price falls were Portugal and Spain – Irish prices remain high by EU standards. The productivity of the Irish workforce remained above the EU average.
The value of GDP fell by 11.3 per cent in 2009 while the public balance deficit was 14.3 per cent of GDP, the largest of any EU member state. Government debt increased steeply to 64 per cent of GDP in 2009, having been 25 per cent only two years before.
