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12th Apr 2018

Great News – Irish Workers Set To Earn More Money Per Hour Before 2020

Darragh Berry

The Central Bank of Ireland’s latest bulletin is like music to our ears (and our pockets) as they forecast that wages for Irish workers will increase towards the end of 2018 and in 2019.

In their quarterly bulletin No.2 for 2018, the Central Bank has stated that as the economy reaches the target of full employment, wages should rise at a “faster pace” to compliment that. 

The unemployment rate is around 5.6% in 2018 and this is expected to decline to 4.8% in 2019 with total employment set to reach a record 2.3 million in 2019.

You get a job and you get a job, EVERYBODY GETS A JOB. 

All in all, The Central Bank’s latest report forecasts an increase in wages of 3.3% on average in both 2018 and 2019.

Which, when broken down, is about €23 per hour in 2018 and €24 per hour in 2019. Currently, the average hourly earnings in Ireland is just over €22. 

Fantastic news to hear on the way into the weekend. We’ll believe it when we see those extra coins in our back pocket though. 

This news comes just a couple of days after pictures emerged of people queuing days in advance for the sale of houses in Dublin.

Queuing for houses, employment reaching peak records, more money…are we back in 2005 again?

If you want to have a gawk at the full report, you can find it here.

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