Oil prices crept higher today as the possibility that OPEC+ will extend or deepen supply cuts was compounded by a storm-related drop in Kazakh oil output to send the Brent benchmark above $80 a barrel. Brent crude futures were up 73 cents, or nearly 1%, at $80.71 a barrel by 1506 GMT. US West Texas […]
Workers average weekly earnings rose 4.6% between July and September compared to the same period last year, new data from the Central Statistics Office (CSO) shows. On average, employees received wages of €907.72 during the period, up from €876.63 during the third quarter of 2022. Average weekly earnings increased across 12 out of 13 sectors […]
The European Central Bank may need to raise interest rates again if the inflation outlook worsens, and the bank should not rush to ease policy too quickly after the steepest set of rates hikes on record, Bundesbank chief Joachim Nagel said today. The ECB has signalled steady rates for several quarters ahead and investors are […]
Oil prices rose slightly today due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand would remain subdued. Brent crude futures were up 11 cents, or 0.1%, at $80.09 a barrel at 0510 GMT. US West Texas Intermediate (WTI) crude futures were trading […]
Employers will be required to offer paid leave to workers who are subjected to domestic violence from today. The Work-Life Balance Act, which was passed earlier this year, provides for up to five days paid domestic violence leave over a period of 12 months. Minister for Children and Equality Roderic O’Gorman said no one experiencing […]
New figures from the Central Statistics Office shows that 94% of internet users go online daily, and of these, 39% use it all the time or nearly all the time. The CSO’s Internet Coverage and Usage in Ireland research shows that 92% of people aged 16 years and older were recent users of the internet, […]
Talks on a new public sector pay deal involving unions, staff associations and the Government are due to begin at the Workplace Relations Commission (WRC) today. Last week, unions accepted an invitation from the Government to enter talks, but said they want to focus on a short-term agreement. They also expressed disappointment at the Government’s […]
Irish agri-food exports were worth €19 billion in 2022, with 165,000 people employed across the sector, according to the latest annual review and outlook report from the Department of Agriculture published today. Last year was another bumper year for Irish agri-food exports, with total sales of €19 billion, up 22% on 2021. The increase was […]
New figures from the Central Statistics Office today show that the estimated labour market participation rate in the third quarter of 2023 reached 65.8% – the highest rate recorded since the third quarter of 2008 and up from 64.8% the same time last year. Today’s CSO Labour Force Survey figures show that the employment rate […]
The full effect of higher interest rates has yet to feed through the economy, according to the Central Bank’s Financial Stability Review published today. The Review has left mortgage lending rules unchanged. Speaking at a press conference, the Governor of the Central Bank said he was concerned inflation was higher in Ireland than in the […]
