A shift in the structure of employment from part-time to full-time is boosting Ireland’s economic recovery and having a positive knock-on effect on the retail sector, according to a new report from property consultants, Savills Ireland.
Commenting on the retail property market, Savills say that the demand for retail space focused on prime high streets and shopping centres both in Dublin and in the main regional cities, where there was an increase in store openings.
Dr John McCartney, Economist and Director of Research at Savills Ireland said:“Overall, 76,600 new jobs have been added in net terms since the low point in Q1 2012, but the structure of employment growth has also been changing. We are now seeing part-time jobs being converted to full-time employment as the recovery becomes more deeply established.
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"As a result, consumer confidence and disposable incomes are improving. This is feeding directly through to the tills with retail sales up 8.6% in July, the ninth consecutive month of growth”.
Speaking to Newstalk Breakfast, Dr. McCartney outlined the developments in the sector:
