Ireland Economy

Working abroad sounds like an adventure to many people. However, job search in Ireland requires more than just the obvious Irish CV writing and translation, it requires thorough preparation. You will face problems that probably did not even come to your mind when you decided to get Ireland jobs.

Do not take too lightly the influence a work in Ireland can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and uncommon management culture.

art_warning Ireland EconomyMost visits to Ireland are trouble-free but you should be aware of the global risk of indiscriminate international terrorist attacks, which could be against civilian targets, including places frequented by foreigners.

Ireland economy - overview: Ireland is a small, modern, trade-dependent economy. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply in 2008 and Ireland entered into a recession for the first time in more than a decade with the onset of the world financial crisis and subsequent severe slowdown in the property and construction markets.

Agriculture, once the most important sector, is now dwarfed by industry and services. Although the export sector, dominated by foreign multinationals, remains a key component of Ireland's economy, construction most recently fueled economic growth along with strong consumer spending and business investment.

Property prices rose more rapidly in Ireland in the decade up to 2006 than in any other developed world economy. The Irish Government has implemented a series of national economic programs designed to curb price and wage inflation, invest in infrastructure, increase labor force skills, and promote foreign investment.

Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009.

In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the banking sector.

In late 2010, the former COWEN Government agreed to a $112 billion loan package from the EU and IMF to help Dublin further increase the capitalization of its banking sector and avoid defaulting on its sovereign debt.

Since entering office in March 2011, the KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland achieved moderate growth in 2011 and cut the budget deficit to 10.1% of GDP, although the recovery is expected to slow in 2012 as a result of the euro-zone debt crisis.

Labor force - by occupation: agriculture 6%, industry 27%, services 67% (2006 est.)

Unemployment rate: 14.3% (2011 est.), 6.2% (2008 est.), 4.3% (2002 est.)

Natural resources: zinc, lead, natural gas, barite, copper, gypsum, limestone, dolomite, peat, silver

Industries: food products, brewing, textiles, clothing, chemicals, pharmaceuticals, machinery, transportation equipment, glass and crystal, software

euro_banknotes Ireland EconomyCurrency: Euro (EUR; symbol €) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents.

Credit/Debit Cards and ATMs: American Express, MasterCard and Visa are all widely accepted. ATMs are available everywhere, catering for Cirrus and Maestro symbols.

Traveler's Cheques: Accepted throughout Ireland. To avoid additional exchange rate charges, travelers are advised to take traveler’s cheques in Euros, Pounds Sterling or US Dollars.

Exchange rates: Euros (EUR) per US dollar - 0.7107 (2011 est.), 0.755 (2010 est.), 0.7198 (2009 est.), 0.6827 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.06 (2002), 1.12 (2001), 1.09 (2000), 0.94 (1999), 0.7 (1998)

Inflation rate (consumer prices): 2.5% (2011 est.), 4% (2008 est.)

Other Ireland Economy Info

We hope that your Ireland job search has been successful and you will get Ireland visa too. So, if your Ireland cover letter and Ieland CV are ready, you may distribute them to your future employers & job recruiters and start preparing for an Ireland job interview.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Ireland economy info!

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