The Irish Times view on Ireland in data: economic progress but social deficits

We read so many economic and social indicators, the publication of which are generally greeted by conflicting claims from Government and Opposition, that it can be difficult to see the wider picture. And so the publication this week by the Central Statistics Office of a compilation of 60 indicators under the heading “Measuring Ireland’s Progress”, offers the chance to take stock.

We can see a State whose population is growing rapidly, exceeding 5.1 million people in 2022, with a strong rise in inward migration after the pandemic a key factor. Ireland is younger than the EU average, though it is now ageing, an important trend. But fertility rates, too, remain among the highest in the EU. Lifespans here also compare favourably with those elsewhere in the EU.

Trying to join the threads, it is clear that high inward migration resulted in large part from a strong jobs market, attracting people from other countries and those who had previously emigrated. Ireland’s unemployment rate remains consistently below the EU average, at just over 4 per cent. GDP growth figures are less reliable, given the distortion of Irish data, but it is fair to say that growth here has been above average, too.

Elsewhere the figures point to why, despite a rising population and low unemployment, many people feel their standard of living has not risen. Ireland is now the most expensive country in the EU for a basket of consumer goods and services, with prices a remarkable 46 per cent above the average. As we try to shake inflation out of the system, there is a policy agenda here for ministers, with Ireland’s relative position having disimproved significantly over the past decade.

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Living standards depend on public services, too. Despite sharp increases in spending on health, as shown by the data, long queues remain for many services. As with housing, the challenge is to harness the resources of a growing economy to address the shortfalls in services and infrastructure which have clearly fallen behind, due in part to the unexpected population surge .In turn this is vital to underpin economic growth prospects.