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Irish Independent
27-05-2025
- Business
- Irish Independent
Average weekly earnings break through €1,000 mark for the first time
Weekly earnings were up 5.6pc from the first quarter of 2024, which would have represented a real gain in income for Irish workers, with inflation hovering at around the 2pc mark. Average hourly earnings were up by almost 6pc in the same period, increasing to €31.72 compared to the €29.96 recorded in the first quarter of last year. The higher wage costs reflects the tightness of the labour market, with a scenario of practically full employment. The job vacancy rate at the end of the first quarter this year was 1.3pc, more or less the same as the 1.2pc recorded at both the end of Q1 and the end of Q4 last year. The average number of paid hours worked was 32.4 a week, a tiny reduction on the same period last year. The highest averages for hourly labour costs were €63.75 in information and communication, and €55.67 in financial and real estate. There were 29,700 job vacancies at the end of March, up 2,500 from the end of the first quarter of last year. The Public Administration and Defence sector had the highest job vacancy rate at 4pc, followed by 2.3pc in the Professional, Scientific and Technical Activities sector. Louise Egan, a statistician in the Earnings Analysis Division of the CSO, said: 'Average earnings in the economy continue to increase year-on-year, surpassing €1,000 for the first time in the series. This is driven by a number of factors, including a stable job vacancy rate for the past 18 months, as well as annual employment growth of 3.3pc as reported in the latest CSO Labour Force Survey.' She pointed out that average weekly earnings rose across 12 out of 13 sectors in the year to the end of the first quarter. The largest annual percentage increase in average weekly earnings was 8pc in the Arts, Entertainment, Recreation & Other Service Activities sector, followed by an increase of 7.9pc in the Professional, Scientific & Technical Activities sector. The average hourly earnings increase was seen in all 13 economic sectors. Over the five years from the start of 2020 to this year, average hourly earnings rose by 28.1pc from €24.76 to €31.72, while average paid hours increased slightly from 32.3 to 32.4 hours, showing that hybrid working has cancelled out any 'quiet quitting' that followed Covid-19. Higher labour costs have been one factor contributing to inflation across the eurozone, and it is a metric closely watched by the governing council of the European Central Bank when it decides on monetary policy. It meets again next month, when a further cut in interest rates is anticipated. Another signal in that direction was the latest statistics on French inflation, which eased again this month. Consumer prices in France in May are 0.6pc higher year-on-year, compared to 0.9pc in April.
Irish Times
27-05-2025
- Business
- Irish Times
Average weekly earnings of Irish workers surpass €1,000 for first time
Average weekly earnings in the Irish economy have surpassed €1,000 for the first time. Central Statistics Office (CSO) data showed average earnings across all sectors rose (on annual basis) by 5.6 per cent to €1,026 in the first quarter. 'Average earnings in the economy continue to increase year-on-year, surpassing €1,000 for the first time in the series (in 2008),' the CSO's Louise Egan said. 'This is driven by a number of factors, including a stable job vacancy rate for the past 18 months, as well as annual employment growth of 3.3 per cent as reported in the latest CSO Labour Force Survey,' she said. READ MORE Average hourly earnings rose at a rate of 5.9 per cent, increasing from €29.96 to €31.72. The elevated levels of wage growth come as workers seek real wage catch-up after the previous period of inflation. But European Central Bank (ECB) policymakers remain concerned about inflation linked to wage demands in the services sector. 'We're at a critically low level of housing stock' for buyers and renters Listen | 33:06 The job vacancy rate, which measures job vacancies on the last working day of the quarter, was 1.3 per cent, slightly higher than the 1.2 per cent recorded at both the end of the first and last quarters in 2024. The CSO data showed average weekly earnings rose across 12 out of 13 sectors in the year to the first quarter. The largest annual percentage was 8 per cent in the arts, entertainment, recreation and other service activities sector, followed by an increase of 7.9 per cen in the professional, scientific and technical activities sector. [ Delay in minimum wage could lead to industrial action, unions warn Opens in new window ] Information and communication workers were the highest paid workers in the State, earning on average €1,839.67 per week, up 4 per cent year on year, followed by employees in the financial insurance and real estate sector who earned on average €1,565.37 per week, up 2.8 per cent. Workers in the accommodation and food services sector were the lowest paid earning on average €436.10, down 1.2 per cent annually. However, the latter figure reflects the high level of part-time staff in the sector.
Irish Examiner
27-05-2025
- Business
- Irish Examiner
Average weekly earnings pass €1,000 in Ireland
The average weekly earnings in Ireland has now passed €1,000, statistics from the CSO reveal. In the first quarter of 2025, average weekly earnings stood at €1,026.20, up 5.6% from €972.20 in the first quarter of 2024. 'Average earnings in the economy continue to increase year-on-year, surpassing €1,000 for the first time in the series. This is driven by a number of factors, including a stable job vacancy rate for the past 18 months, as well as annual employment growth of 3.3% as reported in the latest CSO Labour Force Survey," said Louise Egan, statistician in the CSO's earnings analysis division. Average weekly earnings increased by 6.4% across the public sector in the year to Q1 2025, rising from €1,150.91 to €1,224.44. Gardaí had the highest average weekly earnings and average weekly paid hours in Q1 2025 in the public sector at €1,626.82 and 42.9 hours respectively. The highest average hourly earnings were €48.64 in the education sector. Overall there were 29,700 job vacancies nationally at the end of Q1 2025, up 2,500 from the end of Q1 2024. This puts the job vacancy rate at 1.3%, slightly higher than the 1.2% recorded at both the end of Q1 2024 and Q4 2024. Average weekly earnings rose across 12 out of 13 sectors. The largest annual percentage increase in average weekly earnings in Q1 2025 was 8% in the arts, entertainment, recreation and other service activities sector, followed by an increase of 7.9% in the professional, scientific and technical activities sector. Average hourly earnings rose by 5.9% to €31.72 in Q! 2025, from €29.96 in the equivalent period in 2024. Average weekly paid hours were 32.4 in Q1 2025, down 0.3% from the Q1 2024 hours of 32.5. The highest averages for hourly total labour costs in Q1 2025 were €63.75 in information and communication, and €55.67 in financial and real estate. The sectors with the lowest cost of employing labour were the accommodation and food services activities sector at €19.47 and the wholesale and retail trade sector at €28.43. The public administration and defence sector had the highest job vacancy rate at 4% in Q1 2025, followed by 2.3% in the professional, scientific and technical activities sector.
