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2009 OECD Economic Surveys: Ireland 2009

image of OECD Economic Surveys: Ireland 2009

OECD's 2009 review of Ireland's economy.  This edition's special feature covers the labour market in Ireland.

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Executive summary

The Irish economy plunged into a severe recession in 2008, following a period of unsustainable growth. Housing investment has slumped and large internal economic imbalances are unwinding, with the effect on demand compounded by the international financial crisis and global slowdown. The adjustment, which is underway, will be prolonged and the economic recovery weak. Irish banks have come under severe pressure, and major support from the government has been required. The downturn has revealed a weak underlying fiscal position. The authorities have already taken important steps to restore stability, but more will need to be done.

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