Guys, I’m just wondering what’s your current situation like?
I work and retail in the west of Ireland and here it seems there’s a new shop closing down nearly every week, and people seem to be struggling. Are we getting into another recession?
Why should you not get a pay rise because you work from home? Are you actually doing less work? Your employer is saving on overheads also.
They get the income data direct from the horse's mouth - DSP, Revenue, etc
The primary micro data sources are the Department of Social Protection (DSP) social welfare data, Office of the Revenue Commissioners’ Income Tax Form 11 and PAYE Income data, Department of Agriculture, Food and the Marine Animal Identification and Movement Data, Student Universal Support Ireland Grant Application and Payment Data, Local Authority HAP Shared Services Centre Housing Assistance Payments and the Residential Tenancies Board Rent Data.
For outgoings, they have the Household Budget survey, in addition to the SILC.
That's the problem… won't be able to enjoy the ride as the kids all living at home!
😁😁😁
You can always book a hotel. Ohh wait no, they're too expensive as well.
There are many different ways of estimating disposable income. I've tried to find the one that best reflects what people have to play around with at the end of the month in real terms.
Earnings data = two sources
(1) surveys of firms
The Earnings, Hours and Employment Costs Survey (EHECS) is a survey that collects earnings, labour cost, hours and employment data from enterprises each quarter. The EHECS survey provides the basis for the production of earnings and labour costs statistics, which measures the cost pressure arising from the production factor "labour" and provide a detailed picture of the level, structure and short-term development of labour costs in the different sectors of economic activity in Ireland.
(2) Earnings data using Admin sources
Income data = EU-wide survey called the SILC
https://www.cso.ie/en/releasesandpublications/ep/p-silc/surveyonincomeandlivingconditionssilc2023/backgroundnotes/
The primary focus of the Survey on Income and Living Conditions (SILC) is the collection of information on the income and living conditions of different types of households in Ireland, in order to derive indicators on poverty, deprivation and social exclusion. It is a voluntary survey (for selected households). Up until 2020 the SILC was carried out under EU legislation (Council Regulation No 1177/2003) and commenced in Ireland in June 2003. On 01/01/2021 Council Regulation No 1177/2003 was repealed by Regulation (EU) 2019/1700.
All of my data in this thread is from the CSO.
The Census does not collect any income or expenditure data.
I have posted above the sources of the earnings and income data.
Household expenditure data is contained in the HBS:
https://www.cso.ie/en/releasesandpublications/ep/p-hbs/hbs20152016/
Get out and enjoy life. Its too short.
When your kids reach a certain age, they'll have the same problem.
Shein is laughing all the way to the bank among other online stores, it becomes more and more the norm as time goes by
For those that don't know,it's the median that's the average wage, mean is overall average when you add everyone's salary together
Being a single person trying to get a mortgage or go on a hotel break, you are basically penalised, everything is more affordable when it's a duo rather than solo
Yeah, great wonderful. It's also an enormous privilege to have the ability to work hard and pay it off. I know a few people that have had to hand their houses back to the bank over the years. A couple of times it was their own fault in over extending what they borrowed, but there was one that had to quit work because of sickness and another who lost everything after their family broke up.
So yeah, there is a privilege in working hard and being able to pay off a mortgage. Same as there is a privilege in having the ability to get a mortgage in the first place, especially these days.
Mean = average
Median is the middle observation, so it is not affected by outliers
I think what you are trying to say is that the median is a better measure of typical earnings, as it is not affected by high outliers?
Surely, given that those unfortunate IALPA pilots are desperately struggling to make ends meet notwithstanding their annual salaries being over €200,000 then it's fair to say that everyone is struggling?
What a ridiculous comment. Work hard, pay off your debts. That’s not privilege that’s hard work.
You don't think you're privileged if you don't have a chronic health condition, for example?
This is what im trying to say -
The mean (informally, the “average“) is found by adding all of the numbers together and dividing by the number of items in the set: 10 + 10 + 20 + 40 + 70 / 5 = 30. The median is found by ordering the set from lowest to highest and finding the exact middle.
So median is a more accurate indicator than the mean
I would say that’s being in the healthy majority no? Why do you have to bring in a minority case to try and prove the point you’re trying to make?
If you have a mortgage chances are you have life insurance which pays off the mortgage if you have terminal illness or serious illness in some cases. If you have chronic illness there would be state supports. Again this wouldn’t apply to the majority of people who would be healthy. If the majority of people had chronic illness the country would be fcuked.
Single people are not being penalised, you're just not spreading the cost.
I find that hard to believe. 160k of disposable income per year??
Not everyone can or will ever be able to buy a house, ergo, homeownership is a privilege. It's literally that simple.
It's ok to recognise privilege. I hate that there's some weird thing about recognising our own privilege.
You are obviously working off a different definition of privilege which I believe is at odds with the actual meaning of the term.
I'll leave it to others to make their own mind up about it.
Is it a privilege to set a portion of your income aside for 25 to 30 years to provide a home for yourself and your family or is just the result of hard work ?
I mean, I'm literally using the dictionary definition of privilege:
an advantage that only one person or group of people has, usually because of their position or because they are rich.
Not everyone can or will be a home owner. That is an unfortunate, undeniable, simple fact. Some people will never be healthy enough, or wealthy enough, no matter what.
So is your stance that everybody is privileged? If I eat tonight, I'm privileged because there are some people that don't?
If I take a breath on my own , I'm privileged over somebody who can't and needs a machine?
Is that right? Can you think of anybody, one person any at all, that in your mind is not privileged?
Correct. We're all privileged in some shape or form. Whats wrong with saying that?
Like I said you're out on your own.
Most will recognise the effort involved in getting and paying off a mortgage and realise it's hard work not privilege.
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