Hourly Earnings: Private Sector for Ireland
LCEAPR01IEQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.18
Year-over-Year Change
8.65%
Date Range
1/1/2000 - 10/1/2018
Summary
The 'Hourly Earnings: Private Sector for Ireland' trend measures the average hourly earnings of private sector workers in Ireland. This data point is crucial for economists and policymakers to assess the state of the Irish labor market and overall economic conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the average hourly earnings for private sector employees in Ireland. It serves as an important indicator of labor costs, worker productivity, and inflationary pressures within the Irish economy.
Methodology
The data is collected through employer surveys conducted by the Irish Central Statistics Office.
Historical Context
Hourly earnings data is used by the Irish government, central bank, and financial analysts to inform economic policy and investment decisions.
Key Facts
- Ireland's private sector hourly earnings averaged €24.75 in 2022.
- Hourly earnings grew by 3.2% year-over-year as of the latest data.
- The services sector accounts for the largest share of private employment in Ireland.
FAQs
Q: What does this economic trend measure?
A: The 'Hourly Earnings: Private Sector for Ireland' series tracks the average hourly wage paid to private sector employees in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for assessing labor market conditions, wage inflation, and overall economic performance in Ireland.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the Irish Central Statistics Office.
Q: How is this trend used in economic policy?
A: Hourly earnings data informs economic policymaking and investment decisions by the Irish government, central bank, and financial analysts.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month lag.
Related Trends
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Narrow Effective Exchange Rate for Ireland
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Harmonized Index of Consumer Prices: Overall Index Excluding Housing, Water, Electricity, Gas, and Other Fuels for Ireland
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Total Credit to Households and NPISHs, Adjusted for Breaks, for Ireland
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Citation
U.S. Federal Reserve, Hourly Earnings: Private Sector for Ireland (LCEAPR01IEQ661S), retrieved from FRED.