Archive for December 2019
Minimum wage set to increase by 30 cent an hour from February
The National Minimum wage will increase to €10.10 in February, the Minister for Employment Affairs and Social Protection has announced. That represents an increase of 30 cent on the current rate of €9.80 per hour. It is estimated that over 127,000 workers would benefit from the increase. Minister Regina Doherty said the Government had decided…
Read MoreSigns of rent stabilisation in Dublin and Cork – RTB
Average monthly rents across the country rose by 8.2% during the third quarter of this year. According to the latest quarterly rent index by the Residential Tenancies Board and the ESRI, the average monthly cost of rent nationally is now over €1,200. The report shows that although the average rent for Dublin is up more than 6.5%…
Read MoreWork permit changes to alleviate staff shortages in sectors
More chefs from outside the country will be eligible for employment permits allowing them to work in Ireland, as a result of changes announced by Minister for Business, Enterprise and Innovation Heather Humphreys today. The move, which follows a review of labour market requirements, is aimed at addressing staff shortages in the hospitality sector. Other…
Read MorePlanning permissions for apartments soar over 80% – CSO
New figures from the Central Statistics Office show that planning permissions for apartments jumped by 80.2% in the third quarter of this year compared to the same time last year. The CSO said the number of planning permissions granted for homes in the third quarter stood 10,590 – 5,656 of these were for apartments and…
Read MoreEuropean new car registrations up 4.5% in November – ACEA
European passenger car registrations rose 4.5% in November, marking the third consecutive month of growth this year, thanks to robust demand in Germany and France and a rebound in demand for VW, Audi and Porsche. Registrations rose to 1,210,860 million cars in the countries of the European Union and the European Free Trade Agreement (EFTA),…
Read More€6 billion of land sales recorded in the last decade
New figures from property consultants CBRE Ireland show that a total of 73 land sales were completed here during 2019. Those 73 sales totalled more than €1.2 billion. This was down on last year’s record result of almost €1.5 billion from 125 deals. CBRE said the 2019 figures still represented a strong result for the…
Read MoreCredit unions facing challenges despite strong reserves
A new report on credit unions show that they continue to face financial challenges in terms of income generation and return on assets due to the low interest rate environment and high cost metrics. But the report from the Central Bank said that on a positive note, the credit union sector continues to demonstrate a…
Read MoreEconomy sees GDP growth of 1.7% in third quarter
The economy – as measured by gross domestic product – grew by 1.7% in the third quarter of this year from the second quarter. GDP stood 5% higher than it was a year ago, new figures from the Central Statistics Office show today. The CSO also said that quarterly GDP growth for the second quarter…
Read MoreUS and China strike deal to ease growing trade tensions
The US and China agreed to the first phase of a broader trade agreement that will see the US reduce tariffs, and at least temporarily calm fears of an escalating trade war between the world’s two largest economies. The deal announced hinges on China increasing purchases of American farm goods such as soybeans and pork,…
Read MoreMotor premiums rise 42% despite cost of claims falling – Central Bank research
Average motor insurance premiums in Ireland rose 42% between 2009 and 2018, despite a decrease of 2.5% in the average cost of claims per policy over the same period, new data has revealed. The statistics also show that the average legal costs for motor insurance injury claims settled through litigation between 2015 and 2018 were…
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