The rate of job losses in Ireland has slowed down, according to the end of the year report by investment and development agency IDA Ireland.
Announcing the IDA's end-of-year statement for 2002 today, chief executive Mr Sean Dorgan said there were enough indicators in IDA activity now to be more optimistic than a year ago.
A total of 11,700 jobs were created in IDA-supported companies during 2002, the statement says.
Job loss trends have slowed, with 14,700 jobs lost in 2002 compared with 17,800 in the previous year. However, total employment in IDA-backed companies fell by 2.2 per cent during 2002.
The number of new investments secured in 2002 was up by two-thirds on 2001: 55 new projects in manufacturing and international services were negotiated by IDA during 2002, compared with 33 in 2001.
"There is a brighter future ahead in 2003 for inward investment than there has been for the past two years," Mr Dorgan said.
"Despite the turbulent global conditions in 2002 the year shaped up better than expected, with a last quarter boost in new projects secured by IDA and a strengthening pipeline of investments in negotiation for the first quarter 2003".
Some regions performed stronger than others in 2002. The Northwest/Donegal region saw employment in IDA-backed companies increase by over 5 per cent; the South East experienced 3.5 per cent growth. The East recorded a marginal increase, but the Mid-West and West regions suffered the greatest declines.