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New data from the Property Price Register shows that the volume of residential transactions rose 12% in the first three months of the year, despite the lockdown. According to Davy, €4.2bn of transactions involving 13,100 properties have been recorded so far this year, with buyers clearly undeterred by the difficult environment for buying. “Estate agents…

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The European Central Bank left policy unchanged as expected today, keeping copious stimulus flowing even as it saw reasons to expect a firm rebound of the euro area economy this year. The ECB is keeping borrowing costs pinned near record lows via massive bond purchases to see the 19-country currency bloc through a scarring recession…

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Consumer sentiment climbed slightly to hit its highest in April since the onset of the Covid-19 pandemic, a survey showed today, but consumers expressed caution about the long-term economic outlook. The KBC Bank consumer sentiment index rose for a third month in a row to 77.9 in April from 77.1 in March. This was still…

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40% of workers aged between 20 and 69 have no occupational pension coverage other than the state pension, according to Age Action. Addressing a Pensions Commission webinar earlier today, Age Action Senior Public Affairs and Policy Specialist Dr Nat O’Connor noted that in certain sectors of the economy, a majority of employers do not offer…

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Figures published the Central Statistics Office today give a provisional breakdown of the €13.1 billion spent by the Government last year to tackle Covid-19. The Pandemic Unemployment Payment accounted for €5 billion, the CSO figures show. The Temporary Wage Subsidy Scheme and its replacement, the Employment Wage Subsidy Scheme, accounted for €3.8 billion. Health sector…

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Minister for Public Expenditure and Reform Michael McGrath has said the Covid-19 supports paid to businesses were “never intended to be a subsidy for insurance companies”. The Minister said the Government is “examining” the issue of insurance companies seeking to deduct such payments from payouts owed to businesses. “The supports that the State has provided…

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The construction industry could be unable to meet pent-up demand for housing and infrastructure, even when fully reopened, due to labour shortages and a “boom and bust” cycle in the sector, according to new research. The report titled ‘Job Quality in the Construction Sector’ warns that this could have serious implications for Ireland’s housing and…

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Job postings on e-recruitment platform IrishJobs.ie were up 34% in the first quarter of the year, compared to the final quarter of 2020. The data suggests the Irish jobs market is steadily recovering from the impact of the Covid-19 pandemic. Overall, vacancies increased by 5%, when compared to the same period last year. The most…

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Land prices remained resilient last year despite the threat posed by Covid-19, according to a report by the Society of Chartered Surveyors Ireland and Teagasc. Nationally, the price for non-residential land ranged from an average of €5,900 per acre for poor quality land to €9,381 for good quality land. The Society of Chartered Surveyors Ireland…

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