Economy
The economy of the Dublin Region was identified as being the powerhouse behind the Celtic Tiger, a period of strong economic growth of the state. This resulted in the economy of the region expanding by almost 100% between the early 1990s and 2007. This growth resulted from incoming high-value industries, such as financial services and software manufacturing, as well as low-skilled retail and domestic services, which caused a shift away from older manufacturing-industry. This change saw high unemployment in the 1980s and early 1990s which resulted in damage to the capitals social structure.
Regional GDP in 2002 was €42.505bn, with GDP per capita at 129% of the state average, and 171% of the European Union average. The workforce of the region in 2003 was 555,306 which equated to a 95.9% employment rate with services (80.0%), industrial employment (12.0%), and construction (8.0%) forming the key industries.
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Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)