The Irish economist Alan McQuaid said that we are as close to full employment as possible - Leaving Cert Economics - Question 3 - 2020

The economic benefits of full employment include:

1. Increased standard of living for citizens: Higher income levels enable citizens to purchase more goods and services, improving overall quality of life.

2. Reduction in social welfare costs: With more people employed, the government can reduce spending on social welfare payments, reallocating those funds towards other public services.

3. Higher tax revenues: Increased employment results in more taxpayers, leading to higher revenue for the state, which can be invested in social and economic development.

4. Increased aggregate demand: Full employment raises aggregate demand as people spend more on goods and services, boosting economic growth.

However, there are challenges:

1. Skilled labor shortages: Full employment may lead to a tight labor market, making it difficult for businesses to find qualified workers.

2. Inflationary pressures: Higher employment can lead to increased wages, which could drive inflation if not managed properly.

3. Possible loss of public services: If wages increase significantly, the government may struggle to provide essential services, impacting quality.

4. Regional disparities: Not all areas may experience the same level of employment growth, potentially exacerbating regional inequalities.

1. Tax revenue loss: Multinationals contribute significantly to Ireland's Corporation Tax; their departure would remove this vital income stream.

2. Loss of employment: A significant number of jobs could be lost if MNCs relocate, leading to increased unemployment and economic instability in affected regions.

3. Decreased foreign direct investment (FDI): If MNCs exit, it may deter new investors, diminishing Ireland's attractiveness as a location for future investments.

4. Impact on local economies: The loss of MNCs would also impact local suppliers and service providers that rely on them, leading to broader economic repercussions.

1. Discrimination in the workplace: Women often face unequal pay for the same work due to longstanding biases and discrimination practices in various sectors.

2. Balancing work and family responsibilities: Women are disproportionately affected by family responsibilities, which can lead to part-time work or interruptions in career progression.

1. Awareness Campaigns: The government could implement campaigns to raise awareness about gender pay gaps, promoting equality in workplaces.

2. Collective Agreements: Enforcing measures that require businesses to report on pay gaps and implement fair salary structures can help to promote equal pay for equal work.