Moore Wealth Management’s Post

Ireland's Unemployment Rate Drops to 4.3% in August 2024 Great news from the Central Statistics Office: Ireland's unemployment rate has decreased to 4.3% in August, down from 4.7% in July. This means 124,600 people were registered as unemployed, a significant drop from July’s 134,400. Youth unemployment also saw a decline, falling to 10.7% from 11.5% in July. These positive trends reflect a gradual improvement in the job market, despite ongoing challenges. Ireland’s labor market remains robust, with job postings stabilizing and the overall unemployment rate expected to stay low in the coming years. #Ireland #recruitment #JobMarket #Economy #CSO #EmploymentTrends

How has Ireland's labour market transformed post-pandemic? The pandemic brought unprecedented challenges, but Ireland responded with agility. Over 330k jobs were added, driving unemployment down to a mere 4.1%. This rapid recovery, however, raised concerns about a potential wage-price spiral amidst elevated inflation. Interestingly, the labour market has started to balance out with a slight easing in demand and robust supply, hinting at moderated wage pressures ahead. Inflation echoed global trends with its volatility. Initially driven by energy prices, it broadened, affecting various sectors. Yet, as 2023 concluded, there were signs of a downturn, offering a glimmer of hope for inflationary pressures to ease further. Central to this transformation is the dual nature of Ireland's economy, where FDI and domestic businesses uniquely merge. This mix has driven employment and wage growth but also highlighted the need for increased investment in domestic sectors to sustain growth and address emerging challenges. Looking ahead, it's clear that while the labour market remains robust, it is also entering a phase of recalibration. This adjustment phase is important for maintaining competitiveness and ensuring sustainable growth. The emphasis on skill development, investment in technology and infrastructure will be critical in shaping future labour landscape. What are your thoughts on how Ireland can continue to adapt its labour market to future challenges and opportunities? Source: Department of Finance Ireland “Economic Insights - Spring 2024” (https://lnkd.in/eRG7fc54) #LabourMarket #Ireland #Economy #Inflation #EmploymentTrends Image by Luca from Pixabay (https://lnkd.in/ei_G45Ge)

Take action for #GenderEqualityWeek (Sept. 22 – 28)!   In Canada, 60% of minimum wage workers are women while 21% of families relying on a female income earner are food insecure. Join the Canadian Labour Congress Workers Together campaign to help demand policies to end the affordability crisis and put workers first. Learn more at workerstogether.ca

As a vital sector of the Australian economy, the Administrative and Support Services industry plays a crucial role in supporting businesses across various sectors. With over 400,000 Australians employed in this industry, the demand for skilled workers continues to rise. #NWInsights #AdministrativeAndSupportServicesIndustry

During turbulent times, like an election year, it's all too easy to lose sight of what truly matters, particularly for low-income workers in South Africa. While we cannot predict the outcome of the upcoming national election, we can help our blue collar workforce to focus on the things that are within their control, such as keeping the right perspective regarding finances. In our latest blog, we offer insights into how employers can help their low income workers stay focused on the long-term goal of achieving financial freedom: https://lnkd.in/daWdYntp #Picsa #FinancialLiteracyMatters #EconomicEmpowerment #bluecollarworkers #lowincomeworkers #BuildingAStrongerEconomy

The U.K. employment minister thinks there’re a million more jobs than her own department reports that there actually are. She also thinks it’s funny that she doesn’t know. Yet, we’re supposed to feel reassured/grateful that the government intends to increase its overreach into how business and the markets actually work. The facts are; There’re not enough good people to go around. The U.K. is paying a heavy price having to go cold turkey on its addiction to low pay, low skill, low productivity labour. The tax regime is disincentivising investment and entrepreneurial risk taking. All governments have rewarded being ‘economically inactive’ - whatever that means. Too many employers are scrambling to stay competitive and viable - ‘jobs’ are often the big ticket costs in their businesses - what is government doing to address an already fragile job market? People and capital are both mobile and borderless - expect both to look better places to do business and create value.

An interesting nugget from the latest CSO data shows that the long-term unemployment rate in Ireland has declined rapidly - now just over 1% of all those unemployed here are out of work long-term. This is half the average rate seen in other EU countries. This is an encouraging statistic that shows the strength of our economy and also the importance of putting more measures to help people out of long term unemployment; a time of effective full employment is the ideal time to do this. https://lnkd.in/eiWXRf4C

The OECD defines a living wage as one that allows a family or individual to afford a basic but decent lifestyle deemed acceptable by society at its current level of economic development. This means living above the poverty line and participating in social and cultural life. Meanwhile, the Fair Work Commission reports that 20.7% of employed Australians are paid at the applicable minimum wage rates. As employers, we must consider: What additional support can we offer our staff to help them navigate the cost of living crisis? #Beny #EmployeeBenefits #costofliving

The Ever Increasing Public Sector Workforce. There is undisclosed course of action being taken by Government to assist in artificially stimulating Unemployment numbers. This involves increasing The Public Sector Workforce. This activity may put upward pressure on Inflation and ergo cause an effect on Interest rates. It is common knowledge that Labor Governments employ massive Public Service Personnel, making the bureaucracy less manageable and less accountable. Now, imagine some of this increasing expenditure on the Public Service going to Cost of Living Measures: As of February 2023, there were 13.8 million employed people in Australia. (ABS) There were 2,430,400 public sector employees in the month of June 2023 comprising: 350,300 employees in Commonwealth government; 1,871,900 in state government; and 208,200 in local government. We have today passed 20% of all people employed in Australia. Total public sector cash wages and salaries in 2022-23 was $214,987.5 million. Source - ABS. God knows what it is today, more or less what it is about to become in the next 12 months.

The ABS released the Labour Force, Australia data for January 2024. In seasonally adjusted terms, in January 2024: 📈 Unemployment rate increased to 4.1%. 📋Participation rate remained at 66.8%. 📈Employment increased to 14,201,300. 📉Employment to population ratio decreased to 64.1%. 📈Underemployment rate increased to 6.6%. 📉Monthly hours worked decreased to 1,871 million. 📈Full-time employment increased by 11,100 to 9,797,800 people. 📉Part-time employment decreased by 10,600 to 4,403,500 people. 📊🗞️📐📝🛜📅💵🗄️📋🗓️ #theaquamoredifference #statistics