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Hiring rates have declined from post-pandemic highs, according to IDA Ireland’s latest Labour Market Pulse. The study, which is published in partnership with Microsoft and LinkedIn, shows that hiring rates were 12.7% lower in October 2022 compared to October 2021. However, the 2022 figure is still above hiring rates in both October 2019 and 2020.…

The European Central Bank may raise interest rates at its current pace for a “period of time” to curb inflation, Vice-President Luis de Guindos said today. “We have no choice but to act,” he said in an interview with Le Monde paper published on Thursday. “Increases of 50 basis points may become the new norm…

Finance Minister Michael McGrath said that so far over 7,000 businesses have registered for the Temporary Business Energy Support Scheme, which was announced in the Budget. The Temporary Business Energy Support Scheme (TBESS) aims to assist businesses with their energy costs during the winter months. Speaking on Morning Ireland, Mr McGrath said the first payments…

An updated national Climate Action Plan outlining accelerated economy-wide measures to reduce greenhouse gas emissions will be unveiled by the three Government leaders later this afternoon. It is expected to include new measures to reduce the number of car journeys taken, reduce on-street parking and prioritise active travel and the use of public transport. The…

Consumer sentiment improved in December to its best level for four months as cheaper fuel and an improved economic outlook brought some seasonal cheer to hard-pressed households, a survey showed today. The Credit Union Consumer Sentiment index increased to 48.7 in December from 45.3 in November, the second improvement in the past three months. The…

New figures from the Central Statistics Office show that people who usually worked from home accounted for 22.5% of people in employment in the third quarter of 2022, up from 7.3% during the same time in 2019. The number of people usually working from home saw a sharp rise since pre-Covid pandemic levels, increasing from…

New figures from the Commission for Regulation of Utilities (CRU) show that wholesale gas prices increased by 380% in 2021, while wholesale electricity prices jumped by 260% compared to the previous year. The knock-on effect on retail prices caused more customers to switch providers in an effort to reduce their bills. Today’s data from the…

The possible future introduction of a universal basic income (UBI) would have both positive impacts and drawbacks, according to a new study from the Economic and Social Research Institute (ESRI). A UBI is defined as a universal, unconditional payment that is made regularly, is sufficient to live on, is not means tested and carries no…

European Union countries’ energy ministers meet in Brussels today to attempt to agree a cap on gas prices – their latest idea to tame Europe’s energy crisis but one that countries are still split over. Country leaders last week urged their ministers to approve the cap today, in a bid to finalise a measure that…

The European Central Bank will hike interest rates further in the euro zone to combat high inflation, ECB’s Vice-President Luis de Guindos said today. “There will be more interest rate hikes, until when, I don’t know. I am absolutely honest, I don’t know,” De Guindos said. He added that the institution was committed to bring…