Irish savers missing out on up to €3.5 billion in interest a year
New research from price comparison website Bonkers.ie shows that Irish savers are collectively missing out on up to €3.5 billion in interest a year as they are slow to put their money into higher yielding savings accounts. Daragh Cassidy, Head of Communications at Bonkers.ie, is encouraging more Irish savers to move their money into higher […]
Average Christmas spending set to fall 13% this year – CCPC
Consumers expect average expenditure this Christmas to be down 13% compared with last year, according to a survey conducted for the Competition and Consumer Protection Commission (CCPC). The survey of 1,035 people found the average spend this year will be €1,030, down from €1,186 in 2022. Those with children under 18 will spend more at […]
Growth in service sector picks up in November
The rate of growth in the service sector picked up in November, new figures show. The latest AIB Purchasing Managers’ Index (PMI) shows the rates of expansion in total activity and new business both accelerated in the month for the first time since April. The index reached 54.2 last month, up from 52.6 in October […]
Jump in retail salaries predicted for next year
Fashion and other non-food retailers in Ireland are increasing salaries by 10%-12% in a bid to secure and retain top-tier talent, according to the Excel Recruitment 2024 Salary Guide. Excel said the pay rises are putting a financial squeeze on the budgets of smaller retailers. According to the guide, some roles in the retail sector […]
One in four here in ‘precarious employment’
Just over a quarter of workers here are employed in what are deemed to be secure, high quality jobs, an analysis by UCD and the Nevin Economic Research Institute has concluded. However, an equal proportion are employed in what is termed “precarious employment” with low pay and high job insecurity in many cases. The research […]
Latest CSO figures confirm economy in recession
Figures today from the Central Statistics Office confirm that the economy is in recession. The economy, as measured by gross domestic product (GDP), fell by 1.9% in the three months to the end of September, according to the latest figures from the CSO. Modified Domestic Demand (MDD), which more closely tracks the domestic economy, was […]
New cars registered in November slows by 4%
The number of new cars registered in November fell 4% according to new data from the Society of the Irish Motor Industry (SIMI). 947 cars were registered during the month, down from 985 in the same month a year earlier. However, despite the fall off last month, so far this year registrations overall are up […]
Latest CSO figures confirm economy in recession
Figures today from the Central Statistics Office confirm that the economy is in recession. The economy, as measured by gross domestic product (GDP), fell by 1.9% in the three months to the end of September, according to the latest figures from the CSO. Modified Domestic Demand (MDD), which more closely tracks the domestic economy, was […]
33,450 homes may be built here in Ireland in 2024 – Euroconstruct
A new analysis has estimated that around 33,450 new homes could be completed here next year. The research also predicts that around 31,000 will be finished this year. The study by independent construction market forecasting network, Euroconstruct, says construction output in Ireland is likely to expand by 3.2% this year. This will rise to 4.4% […]
Manufacturing conditions stabilise in November
Business conditions in the manufacturing sector stabilised in November, new figures show. The latest Purchasing Managers Index from AIB reveals the second highest reading since February. The index rose to 50 from 48.2 in October, and 49.6 in September. Readings above 50 indicate overall growth in activity. Marginal increases in output and orders combined with […]
New tenants are paying 18% more for rent than existing ones – RTB
New tenants are paying considerably more rent than renters with existing tenancies, new official data has shown for the first time. According to information released by the Residential Tenancies Board, the standardised average rent nationally for an existing tenancy between April and June of this year was €1,332. That compares to €1,574 for a new […]
Big increase in demand for construction workers in 2023
The resurgence of construction here meant professional roles in that sector recorded the biggest increase in demand this year, new data shows. IrishJobs TalentBank, a database containing over 1.2m job candidates, shows demand for site engineers rose by 255%, while demand for site managers more than doubled to 157% between the third quarter of last […]
ECB picks ‘European culture’ and ‘rivers and birds’ as themes for new euro banknotes
The Governing Council of the European Central Bank said it has selected “European culture” and “Rivers and birds” as the possible themes to choose from for future euro banknotes. This follows surveys conducted during the summer for the European public to express their preferences from seven shortlisted themes. In the survey commissioned by the ECB, […]
Weekly earnings rose by 4.6% in third quarter – CSO
Workers average weekly earnings rose 4.6% between July and September compared to the same period last year, new data from the Central Statistics Office (CSO) shows. On average, employees received wages of €907.72 during the period, up from €876.63 during the third quarter of 2022. Average weekly earnings increased across 12 out of 13 sectors […]
Brent tops $80 ahead of OPEC+ meeting
Oil prices crept higher today as the possibility that OPEC+ will extend or deepen supply cuts was compounded by a storm-related drop in Kazakh oil output to send the Brent benchmark above $80 a barrel. Brent crude futures were up 73 cents, or nearly 1%, at $80.71 a barrel by 1506 GMT. US West Texas […]
EU agreement on reducing industrial emissions
EU member countries and the European Parliament have said they have reached a preliminary agreement on curbing industrial emissions, including those from intensive poultry and pig farms and from ore mines. The deal, struck late last night, would “reduce harmful emissions from industry and improve public access to information,” the European Council, representing member states, […]
New domestic violence leave entitlements begin
Employers will be required to offer paid leave to workers who are subjected to domestic violence from today. The Work-Life Balance Act, which was passed earlier this year, provides for up to five days paid domestic violence leave over a period of 12 months. Minister for Children and Equality Roderic O’Gorman said no one experiencing […]
Oil prices rise slightly due to weak dollar
Oil prices rose slightly today due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand would remain subdued. Brent crude futures were up 11 cents, or 0.1%, at $80.09 a barrel at 0510 GMT. US West Texas Intermediate (WTI) crude futures were trading […]