Average weekly earnings and number of hours worked go up, says CSO
Average weekly earnings has increased by €48.49 compared to last year.
Average weekly earnings increased by 5.3% to €955.59 between July and September while the number of hours worked also ticked upwards slightly, new data from the Central Statistics Office (CSO) shows.
In comparison to the same quarter last year, average weekly earnings increased by €48.49. The average number of weekly paid hours during the three months of the end of September was 32.8 up from 32.6 last year.
Statistician with the CSO Louise Egan said that the rise in the average earnings was driven by a number of factors including “a stable job vacancy rate for the past 18 months as well as annual employment growth of 3.7%”.
“Average weekly earnings rose across all 13 sectors in the year. The largest annual percentage increase in average weekly earnings was 8.7% in the information and communication sector, with the second largest increase of 7.7% seen in the transportation storage sector,” she said.
Average weekly earnings up 5.3% to €955.49 in the 12 months to Q3 2024https://t.co/mUSoUwtKdt#CSOIreland #Ireland #Earnings #LabourCosts #LabourMarket #BusinessStatistics #Business #BusinessNews #IrishBusiness pic.twitter.com/8rQHbDPnXi
— Central Statistics Office Ireland (@CSOIreland) December 2, 2024
The average total labour costs also increased from €32.50 last year to €34.12 this year. The information and communication sector had the highest average hourly total labour costs at €58.64.
The lowest labour costs were seen in the accommodation and food services sector at €18.69 an hour.
The CSO also noted that the job vacancy rate as of the end of September was 1.2%.
The economic area with the highest job vacancy rate was the public administration and defence sector at 3.3% followed by 2.5% in the professional, scientific, and technical activities sector.
