Finance shows biggest earnings drop.
Home » News & Articles » Finance shows biggest earnings drop.
Finance shows biggest earnings drop
A study recently carried out by the Central Statistics Office showed a comparison of earnings in all sectors of the workforce. Average weekly earnings fell by 1.1% from the second quarter of 2008 to € 698.43 in the second quarter of 2009.
The private sector experienced a 3.1% decrease in earnings, due in part to the higher number of job losses in the sector. Earnings in the public sector rose by 1.3%, though this figure did not include the effects of the pension levy. The financial and property sector saw a 13.3% fall in earnings, while there was a 1 rise in education. Average labour costs across all sectors increased by 2.4% over the year to €25.51 an hour.
The Earnings Hours and Employment Costs Survey also show that employment fell by 6.2 % from the second quarter of 2009. Employment fell by almost 20% in construction to 116,000 employees.
In the public sector, employment dropped slightly by 2,300 or 0.5% over the 12 months, while the private sector fall was 7.9% or 107,100 employees.
John McCarrick
John McCarrick and Associates
11 Dunville Avenue, Rathmines
Dublin 6,Ireland
Telephone:01 4960102
Fax: 01 4973717
« Go back to News Headlines
