Welcome to Political Irish

We believe in free legal speech, fair play and good discussion. Sign up and join in!

Register Log in

Not enough migrants arriving to keep pay down - Central Bank

Kershaw

Donator
PI Member
Joined
Oct 8, 2016
Messages
8,802
Likes
16,758
Not enough migrants arriving to keep pay down - Central Bank

Spare a thought for the wage slavers.

THE number of people willing to move here to work is not going to hit levels seen during the last boom and will not keep wages down, economists at the Central Bank are forecasting.

The Department of Finance expects that another 50,000 jobs will be added this year, barring a hard Brexit, and predicts average wages will rise 3pc in 2019, 3.2pc in 2020 and 3.3pc the following year.

While that message spells bad news for employers trying to address shortages in key areas, it is good news for those in work, as it implies that wages will continue to rise.

Rising job opportunities and wages in eastern Europe mean migrants are less tempted to come to Ireland, unless the pay gap is very big. "As such, attracting migrants may only occur at higher wage differentials, going forward, than seen in the 2004-07 period that coincided with the EU accession countries joining the pool of available EU migrants at relatively low wages," Mr Byrne and Ms McIndoe-Calder wrote.

Business group Ibec has highlighted the risk that labour shortages pose to local firms, suggesting they have emerged as a factor in the construction industry. Labour costs typically account for half of businesses' overall costs, and so they are highly sensitive to changing wage levels.

A separate Central Bank of Ireland research analysis, also published yesterday, highlighted the risks from a lack of housing.

"Ireland is likely to require significant inflows of workers from abroad over the coming years, provided the economy remains on a favourable growth trajectory," the report said.

Not enough migrants arriving to keep pay down - Central Bank - Independent.ie
 

whyfillaw

PI Member
Joined
Aug 3, 2018
Messages
410
Likes
722
trusting what banksters say about financial affairs and the economy would be like trusting Dr. Harold Shipman with helping an old person with medical history and mental problems.it would be like "trusting the winner of the Tour de France" to be clean after its scandalous history going back decades. Sorry I'll pass on their reports and light a fire with it and not waste my time reading BS.
 

darkhorse3

PI Member
Joined
Feb 21, 2018
Messages
3,230
Likes
1,070
Thats a shame
Means new house prices will rise apart from other labour costs
Bad news for the consumer
 

The Doc

PI Member
Joined
May 12, 2018
Messages
1,399
Likes
3,142
Time for the whole capitalist system to collapse. Starting with a government willing to take control of it's own currency. State sponsored usury needs to end
 

darkhorse3

PI Member
Joined
Feb 21, 2018
Messages
3,230
Likes
1,070
Are you always this slow?

Immigrants require housing - either rented or purchased. More immigrants = more demand. Less immigrants = less demand.

Now, what do we know happens to asset prices when demand drops?
But the OP said 'not enough immigrants arriving' because of improved job opportunities in their home countries
Can't put this in simpler terms anymore
Honestly, I dont know why I bother sometimes
Jeez
 
P

pawpatrol

Non Registered Member
GUEST
But the OP said 'not enough immigrants arriving' because of improved job opportunities in their home countries
Can't put this in simpler terms anymore
Honestly, I dont know why I bother sometimes
Jeez
Correct and you were whining that this would increase house prices as labour costs would rise.

However, immigrants require housing - either rented or purchased. More immigrants = more demand. Less immigrants = less demand.

Now, what do we know happens to asset prices (HINT - HOUSES ARE AN ASSET) when demand drops?
 

darkhorse3

PI Member
Joined
Feb 21, 2018
Messages
3,230
Likes
1,070
Correct and you were whining that this would increase house prices as labour costs would rise.

However, immigrants require housing - either rented or purchased. More immigrants = more demand. Less immigrants = less demand.

Now, what do we know happens to asset prices (HINT - HOUSES ARE AN ASSET) when demand drops?
You don't seem to know what you are on about - contradicting yourself from one post to the next
Less immigrants arriving means higher wage costs, higher new house prices and lower rents
Try thinking about what you say before you post next time
 
Top Bottom