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Irish mortgages rates still second highest in euro zone

Ireland’s mortgage rates for new loans remained the second highest in the euro area in November, according to the Central Bank. Greece had the highest rates in the euro area. The weighted average interest rate on new mortgages was 2.7% in November, a reduction of 8 basis points or 0.08%, on November 2020. The euro […]

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Covid-adjusted jobless rate moves up to 7.5% in December – CSO

The unemployment rate, adjusted to include those on the Pandemic Unemployment Payment (PUP), rose to 7.5% in December compared to 6.9% in November. The traditional seasonally adjusted monthly unemployment rate fell from 5.2% or 135,000 people in November to 5.1% or 132,100 people in December, the latest figures from the Central Statistics Office show today. […]

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Asking prices for used cars now 56% higher than they were before the Covid-19 pandemic

The rate at which the price of used cars is increasing has reached a new high, driven by the supply shortages caused by the Covid-19 pandemic and Brexit. In the last three months of the year, the inflation rate for used cars grew a further 7.7%, the second highest quarterly price rise since 2011, according […]

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Minimum wage rises offset reduced hours, report finds

The average take home pay of workers on the minimum wage increased over the years from 2016-2018, according to new research from the Economic and Social Research Institute. The report also finds that the hours worked by some on the minimum wage, fell by almost one hour per week. But the increase in the minimum […]

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Mortgage approval values reach new high in November

Almost 5,000 mortgages were approved in November, up 8.6% on the previous month but down 4.6% on the same time last year. New figures from Banking and Payments Federation Ireland reveal that over half of all mortgages approved during the month were for First Time Buyers (FTBs), while mover purchasers accounted for just under 28%. […]

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Gloomy outlook for global recovery, World Economic Forum survey finds

Only one in 10 World Economic Forum members surveyed expects the global recovery to accelerate over the next three years, a poll of nearly 1,000 business, government and academic leaders found, with only one in six optimistic about the world outlook. Climate change was seen as the number one danger by respondents in the WEF’s […]

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Govt to consider reducing back public servants’ hours to pre-July 2013 levels

Thousands of public servants will have their working hours reduced back to lower pre-austerity levels from 1 July, if a recommendation made by an independent body examining the issue is accepted by the Government. Extra working hours were introduced for the public servants under the 2013 Haddington Road Agreement. The mechanism of additional hours was […]

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Supermarket sales dip by 5.2% over Christmas period

New figures show that the value of the grocery market declined by 5.2% to €3.1 billion during the 12 weeks to December 26 as the market faced a tough comparison against record sales in 2020. But Kantar said that sales have grown by 10.9% compared to the same time in 2019. A total of €1.1 […]

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Small firms have muted expectations for 2022 – SFA

Confidence among small businesses took a hit amid a new round of restrictions on hospitality venues which were introduced just before Christmas. The Small Firms Association said that 41% saw the business environment improving in winter 2021 compared to 55% last Summer. Many businesses are also dealing with increased costs and supply chain delays, which […]

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Poverty levels jump after households receiving subsidies pay rent – SJI study

The poverty risk of households that are in receipt of housing subsidies is two and a half times greater after they have paid their rent, according to an analysis by the think tank Social Justice Ireland. In its report ‘Housing and Poverty 2022’, the group concludes that the practice of using housing subsidies to support […]

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