News

A European Central Bank staff paper published today says bigger company profits are driving inflation more than higher wages. The paper – “How tit-for-tat inflation can make everyone poorer” – makes clear that both higher wages and higher profit margins are pushing up prices in the euro area. This is in response to higher energy […]

The Irish Congress of Trade Unions (ICTU) has welcomed the passage of the Work Life Balance Bill by both Houses of the Oireachtas. The legislation will introduce a range of measures to improve family-friendly work practices including giving parents and carers the right to request flexible work. It will also introduce unpaid leave for medical […]

Migrant labour market outcomes were more affected by the Covid-19 pandemic and associated public health restrictions than those of Irish-born workers, a new study from the Economic and Social Research Institute has found. However, by early 2022, the migrant employment rate of 77% was higher than the 72% rate among Irish-born workers. It also exceeded […]

The Government has been urged by budgetary watchdog the Irish Fiscal Advisory Council to take steps now to ensure State and public sector pensions are funded into the future. IFAC warns that otherwise tensions will arise when a smaller, younger, working population will have to pay more to fund a larger retired population. It recommends […]

Financial literacy levels in Ireland appear to lag those in other comparable jurisdictions, a study carried out on behalf of Bank of Ireland concludes. The survey of over 1,000 adults here, which was conducted by Red C, found that Ireland had an average financial literacy score of 54%. The most recent directly comparable international studies […]

Small firms were conned out of €8m last year as a result of cases of invoice and so-called CEO impersonation fraud. The Banking and Payments Federation Ireland’s (BPFI) FraudSMART campaign is warning businesses of a heightened risk of financial scams, particularly because of the increasing prevalence of working from home. Recent research by the Small […]

The economy is set to grow more strongly this year than had been expected and may even overheat, according to the latest quarterly bulletin from the Economic and Social Research Institute. It expects the domestic economy to grow by 3.8% this year while inflation will moderate to 4.5%. Record levels of employment could stretch the […]

More than 60,000 homes could be built on State-owned land, according to a report going to Cabinet this morning. The Report on Public Land identifies 83 State-owned sites with the potential for up to 67,000 homes in the medium to long-term. The work compiled by the Land Development Agency indicates that land in the cities […]

Minister for Finance Michael McGrath will today seek Cabinet approval for Ireland to apply to become the base for the new EU Anti-Money Laundering Authority (AMLA). The AMLA, set to be established in 2024, will be a major EU institution tasked with overseeing compliance with anti-money laundering and countering financing of terrorism rules and standards. […]

The total value of Irish pensions fell by almost 16% last year, according to new figures. Rising interest rates and the geo-political uncertainty caused by the war in Ukraine wiped significant value off pension funds around the globe. At the end of 2022 Irish pension assets were worth around €157 billion, having increased by an […]