Average weekly earnings up 5.6% in second quarter – CSO
Preliminary figures from the Central Statistics Office show that average weekly earnings for the second quarter of 2024 reached €963.17, an increase of 5.6% or €51.43 compared with the same time last year.
The CSO said that average weekly earnings rose across all 13 sectors in the year to the second quarter, with the largest annual percentage increase of 11.8% reported in the Construction sector.
Today’s figures show that average hourly earnings grew on an annual basis by 5.4% to €29.71, while average weekly paid hours increased by 0.3% to 32.4 in the second quarter of 2024 from 32.3 in the second quarter of 2023.
The CSO noted that over the five years from the second quarter of 2019 to the second quarter of 2024, average hourly earnings went up by 25.4% from €23.69 to €29.71.
Meanwhile, average hourly other labour costs rose by 10.1% across all economic sectors to €5.22 from €4.74, while average hourly total labour costs grew by 6.1%.
The sector with the highest average hourly total labour costs in the second quarter of this year was the Information & Communication sector at €59.64, followed by the €50.10 in Financial & Real Estate sector.
The lowest average total labour costs were in the Accommodation & Food Service Activities sector, which recorded a rate of €18.76.
Today’s CSO figures also show that the job vacancy rate in the three months from April to June was 1.1%, which was unchanged from the end of March and down from 1.3% at the end of the same time last year.
Article Source – Average weekly earnings up 5.6% in second quarter – CSO – RTE
