Increase in searches for part-time and casual work as wage growth slows
There has been an increase in job searches for part-time and weekend work, as well as jobs requiring no experience, according to job site Indeed. The company said the increase likely reflects the need for those normally on the outskirts of the job market, such as the long-term unemployed or younger people, to enter or […]
Cabinet to hear planned changes to State-backed mortgage scheme
The Cabinet will be briefed by Minister for Housing Darragh O’Brien today on plans to increase thresholds for a State-backed mortgage scheme for people who cannot get loans to buy homes from banks. The Local Authority Home Loan was launched in January of last year as party of the Government’s Housing for All strategy. The […]
Irish debt burden among highest per capita in the world at €44,250
The national debt stood at €226 billion at the end of last year, according to the Department of Finance’s Annual Report on Public Debt in Ireland. That is equal to €44,250 for every man, woman and child in the country and is one of the highest per-capita debt burdens in the world, according to the […]
Growth in service sector picks up in January
Growth in the country’s service sector picked up in January, according to the latest AIB Services Purchasing Managers’ Index (PMI). The data shows that activity and new business throughout the month increased at faster rates. The business activity index rose for the second month running, climbing to 54.1 from 52.7 in December and 50.8 in […]
Work-life balance, not pay, biggest factor for Irish job seekers
Work-life balance is now the number one influence for Irish professionals when they are seeking a new job, research has found. The study also revealed that nearly six in every ten applicants would refuse a job offer if they had a negative experience during the recruitment process. The Future of Recruitment survey, carried out by […]
Euro zone inflation drops to 8.5% in January from 9.2% in December
Inflation in the euro area fell to an annual rate of 8.5% in January from 9.2% in December, according to an initial estimate from Eurostat. Energy inflation fell to an annual rate of 17.2% from 25.5% in December. But food inflation increased from 13.8% to 14.1%. Core inflation, which strips out the effect of food […]
European Parliament President to address Oireachtas
European Parliament President Roberta Metsola will address a joint sitting of the Oireachtas later today. Ms Metsola arrives in Ireland this morning for the start of a two-day visit, during which she will meet President Michael D Higgins, Taoiseach Leo Varadkar and Tánaiste Micheál Martin. The visit has been organised to mark 50 years of […]
ECB expected to hike interest rates by further 0.5%
The Governing Council of the European Central Bank meets in Frankfurt today where it is widely expected to increase interest rates by a further half a percentage point. Interest rates have been increased four times by the European Central Bank since July last year in an effort to bring inflation down. It is widely expected […]
Annual rate of inflation slows to 7.7%, CSO estimates
The annual rate of inflation slowed to 7.7% in January, according to an initial estimate by the Central Statistics Office. This compares to an annual rate of 8.2% in December. This measure of inflation is the Harmonised Index of Consumer Prices (HICP), which allows for comparisons across the EU. Eurostat’s estimate of inflation across EU […]
Irish economy grows three times faster than euro zone average in 2022
The EU’s statistical agency, Eurostat, has estimated that the euro area economy, measured by GDP, grew by 0.1% in the last three months of last year compared to the previous three months. Across 2022, Eurostat estimates that the euro area economy grew by 3.5% of GDP. Ireland’s economy, boosted by the performance of multinationals, grew […]
Hairdressers warn salons at risk if VAT rate rises
The Irish Hairdressers Federation has called for the retention of the 9% VAT rate for the sector ahead of its planned rise in the coming weeks. The rate is due to increase to 13.5% on 1 March. The federation said hair salons have seen their costs rise dramatically in the past year and the VAT […]
Rent tax credit adds to volume of calls to Revenue
Revenue is experiencing a higher volume of calls due to tenants enquiring about the new rent tax credit. The measure, introduced in Budget 2023, allows tenants paying rent on private rental accommodation to claim a €500 rent tax credit. The credit is for 2022 so when a renter claims it, it will result in a […]
70% of consumers considering buying an electric vehicle
70% of consumers in Ireland are considering an electric vehicle as their next car purchase, a new survey by DoneDeal shows. The figures show that demand on the website for new and used electric vehicles grew by 33% last year, while demand for diesel cars fell 39% during the same period. For the first time […]
RTB pausing and refunding late fees to landlords
The Residential Tenancies Board is applying a temporary pause on the charging of late fees in recognition of “the genuine difficulties” experienced by landlords who have been trying to register tenancies. It is also in the process of refunding landlords who were charged late fees between August and November last year, with over 80% of […]
Businesses urged to avail of energy bill aid scheme
Businesses are being urged to claim for State help with energy bills as new figures show there has been a low take-up so far of a Government scheme. The Temporary Business Energy Support Scheme (TBESS) provides qualifying businesses with up to 40% of the increase in electricity or gas bills up to €10,000 per month […]
2023 travel trends: Cruises, safaris and budget trips
From cruising around the Mediterranean, to backpacking across South America, international travel is set to return full force this year. ‘Revenge travel’ is a phrase being used to describe the desire to travel that emerged last year, as people took to the skies, seas and roads to make up for the trips they missed due […]
More interest rate hikes in prospect? Almost certainly
After six years of interest rates sitting at rock bottom, it came as a bit of a jolt when the European Central Bank started raising rates last summer. And the regulator certainly hit the ground running with a full half a percentage point increase to its key rates in July on what was its first […]
Almost 30,000 new home completions in 2022 – CSO
The number of new dwellings completed in 2022 reached 29,851, according to new figures from the Central Statistics Office today. The CSO said this represents an increase of 45.2% on the numbers completed in 2021 and an increase of 41.3% on the numbers completed in 2019 – pre-pandemic. A total of 9,166 apartments were completed […]