Average weekly earnings up 4.7% in first quarter of 2024 – CSO

May 31, 2024

New figures from the Central Statistics Office show that average weekly earnings rose by 4.7% to stand at €969.12 in the first quarter of this year compared to €925.44 the same time last year.

Today’s CSO figures also show that average hourly earnings rose by 4.5% to €29.82 in the first three months of the year from €28.54 during the first quarter of 2023.

The CSO noted that average weekly paid hours rose by 0.3% to 32.5 in the first quarter of this year from 32.4 the same time last year.

Meanwhile, average weekly earnings rose across 12 out of 13 sectors, with the largest annual percentage increase of 8.9% seen in the Arts, Entertainment, Recreation & Other Service Activities sector.

Today’s CSO figures also show that the job vacancy rate at the end of the first quarter was 1.1%, lower than the 1.4% recorded at the end of the first quarter of 2023 and unchanged from the end of 2023.

They also reveal that average hourly other labour costs grew by 9.8% to €5.05 in the three month period under review from €4.60 the same time last year.

The highest averages for hourly total labour costs were €60.42 in Information & Communication, and €53.37 in Financial & Real Estate, while the lowest average total labour costs were in the Accommodation & Food Service Activities sector, which recorded a rate of €18.85.

The CSO also said that average weekly earnings increased by 4% across the public sector, rising from €1,103.55 to €1,147.50.

An Garda Síochána had the highest average weekly earnings in the public sector at €1,569.22, while the highest average hourly earnings in this period were €46.51 in the Education sector.

The CSO noted that the Building Momentum Public Service Agreement 2021-2022 was implemented in the fourth quarter of 2022 and introduced an increase in the annualised basic salaries for public servants of 3%, which was backdated to February 2022.

Payments to public servants in Q4 2022 may have included backdated pay in relation to this agreement, which impacts the annual percentage change of average weekly earnings.

An Garda Síochána had the highest average weekly earnings in Q1 2024 in the public sector at €1,569.22. The highest average hourly earnings in this period were €46.51 in the Education sector.

Article Source – Average weekly earnings up 4.7% in first quarter of 2024 – CSO – RTE

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