Business and Finance News
Global House Prices: Dublin prices seriously unaffordable
An annual survey of house prices in several global locations has rated Dublin prices as seriously unaffordable while Limerick has the most affordable housing costs of all markets surveyed.
60% of Irish private workers have no jobs pension
60% of Irish private workers have no jobs pension while there is a 100% coverage and special pension provisions for politicians, and 100% coverage for public sector workers. Last year pension payments rose for former politicians and it’s not surprising…
Tax: Irish Government angry at unfair EU treatment of Apple
Tim Cook, Apple’s CEO, visited the European Commission’s offices in Brussels Thursday to lobby for in effect an amnesty in the investigation of the electronics giant’s special or unusual tax arrangements using Irish companies to avoid/ evade massive am…
Irish media sustains distorting politics of jobs spin
Fine Gael this week effectively acknowledged that Enda Kenny, taoiseach, lied in January 2015 when he reported a false total for recession job losses (see below). On Wednesday the Government’s jobs publicity machine generated 30 reports in the Irish media on announcements of up to 1,500 jobs that maybe created in 5 years (no company will guarantee what payroll it would have in 5 years) while also Wednesday in the Dáil, two Opposition spokespersons put questions to Richard Bruton, jobs and enterprise minister, on jobs targets and the politics of jobs spin. The proceedings in which Bruton trashed the credibility of Department of Finance economists, generated 1 media report (same report in 2 outlets).
Global unemployment set to rise 4.8m in 2016/ 2017 as growth dips
Global unemployment is forecast to rise 4.8m in 2016/ 2017 despite high total unemployment of 197.1m in 2015, which was 27m higher than the pre-crisis level of 2007. Continuing high rates of unemployment worldwide and chronic vulnerable employment in m…
France’s Hollande to add 500,000 fake jobs to cut jobless rate
On Monday François Hollande, French president, proclaimed an economic and social emergency (‘un état d’urgence économique et social’) and the creation of 500,000 fake jobs is the main item of a number of measures that he announced to business and trade union leaders. With a presidential election due in 15 months, Hollande has said in the past that he would not seek reelection if unemployment is higher than when he took office in May 2012 — the harmonised jobless rate was at 9.7% in Q2 2012 and last November it was at 10.1%.
China’s 2015 official growth rate lowest in 25 years
China has announced its official growth rate for 2015 which is the lowest in a quarter century but some economic commentators suggest that the real rate was lower.
Shrinking US workforce triggers decline in business startups
Young US firms up to five years old account for most new job creation in the economy but the rate of formation of employer startups (firms that employ staff other than the founders) has both fallen sharply in recent decades while the number of employee…
Communist China has very high level of income inequality
Communist China has one of the world’s highest levels of income inequality, with the richest 1% of households owning a third of the country’s wealth, a study produced by Peking University has found.
Germany full-employment, best budget surplus in 15 years
Germany’s finance ministry this week reported a 2015 budget surplus that is double the original target and the result of record tax revenues and one-off effects. Wolfgang Schäuble, finance minister, said that he would allocate the surplus of €12bn to refugee costs — the surplus gross domestic product ratio was 0.5%.