The Celtic Tiger

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Positive Economic Effects

  1. Unemployment rate dropped significantly
    • Fell from 18% in lat 1980's to 4.2% in 2005
    • Average industrial wage grew at one of the highest rates in Europe
  2. Public Debt
    • Dramatically cut to become one of the lowest in Europe (34% GDP in 2001)
    • Public spending doubled without any significant increase in taxation levels
  3. Modern Ireland
    • New transportation services
    • New monuments
    • Enhanced street appearance
  4. Dual Labor Market
    • Increased the number of highly skilled workers
    • Vast amount of well paid jobs