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Good economic news thread

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Comments

  • #242
    chopper6
    Banned (with Prison Access) Posts: 3,214 ✭✭✭chopper6


    Rightwing wrote: »
    You are not a good ad for corporations like Apple & Google anyway. Shame they don't think like you. ;)

    Would this be the same Apple and Google who are under fire for not paying thier way in this economy?

    They wont be around here forever,make no mistake.


  • #243
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    Rightwing wrote: »
    AIB yes, not so sure about oil price. Have to ask why is it falling? Global growth is pretty weak, so in the immediate future yes it's good, but with longer term consequences.

    Good news for oil importing countries, makes them more competitive.


  • #244
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    Godge wrote: »
    Good news for oil importing countries, makes them more competitive.

    There's a bit of a power play going on at the moment between the Saudis and the US...the critical $75 figure. All temporary I suspect.


  • #245
    Jumboman
    Banned (with Prison Access) Posts: 1,294 ✭✭✭Jumboman


    Rightwing wrote: »
    AIB yes, not so sure about oil price. Have to ask why is it falling? Global growth is pretty weak, so in the immediate future yes it's good, but with longer term consequences.

    Isis are selling oil for 25 dollars a barrel.


  • #246
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    http://www.rte.ie/news/business/2014/1105/657069-live-register/

    The good news keeps on coming, unemployment down to 11%. At the current rate, we will dip below 10% sometime next year.

    If only unemployment went down as fast as it goes up.


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  • #247
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    Godge wrote: »
    http://www.rte.ie/news/business/2014/1105/657069-live-register/

    The good news keeps on coming, unemployment down to 11%. At the current rate, we will dip below 10% sometime next year.

    If only unemployment went down as fast as it goes up.

    Still, out of the PIGS, we are the only one making any impact on unemployment. The figures for youth unemployment in Greece & Spain are quite shocking.


  • #248
    ardmacha
    Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    Construction has been well below its wrong term trend. I imagine by next summer it will not be and this will bring people into employment. I suspect too the Xmas season may be better than some recent years with consequent temporary employment.


  • #249
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    Rightwing wrote: »
    Still, out of the PIGS, we are the only one making any impact on unemployment. The figures for youth unemployment in Greece & Spain are quite shocking.

    Really?

    http://www.rte.ie/news/business/2014/1105/657095-portugal-jobless/

    Portugal is down to 13.1% from 15.5%.

    At one time, your posts were a lot more factual and evidence-based, nowadays they seem like throwaway remarks and based on 2010 figures.


  • #250
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    ardmacha wrote: »
    Construction has been well below its wrong term trend. I imagine by next summer it will not be and this will bring people into employment. I suspect too the Xmas season may be better than some recent years with consequent temporary employment.


    In the last two months I have been surprised at the amount of new construction that has started. Office buildings, houses etc.


  • #251
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    Godge wrote: »
    Really?

    http://www.rte.ie/news/business/2014/1105/657095-portugal-jobless/

    Portugal is down to 13.1% from 15.5%.

    At one time, your posts were a lot more factual and evidence-based, nowadays they seem like throwaway remarks and based on 2010 figures.

    Nonsense. You have to delve deeper to get a true picture.

    Portugese youth unemployment is substantially up now (35%) that in 2010 (26%).
    Someone getting 3 hours work comes off live register, the figures you quoted, that masks the real figures.

    It's youth unemployment that has the EU shaking.


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  • #252
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    Rightwing wrote: »
    Nonsense. You have to delve deeper to get a true picture.

    Portugese youth unemployment is substantially up now (35%) that in 2010 (26%).
    Someone getting 3 hours work comes off live register, the figures you quoted, that masks the real figures.

    It's youth unemployment that has the EU shaking.


    Portugal crashed later and harder than us and that explains the discrepancy.

    Youth unemployment is still very high, but is falling from 35.6% to 32.2%.


  • #253
    Sheldons Brain
    Registered Users, Registered Users 2 Posts: 1,394 ✭✭✭Sheldons Brain


    Godge wrote: »
    In the last two months I have been surprised at the amount of new construction that has started. Office buildings, houses etc.

    With the range of announcements with the web summit, the IT sector seems likely to employ more. The restoration of normality in construction will employ others and the multiplier effect will increase employment in retail, hospitality etc. Perhaps it is really 1994!


  • #254
    creedp
    Registered Users, Registered Users 2 Posts: 6,241 ✭✭✭creedp


    ardmacha wrote: »
    Construction has been well below its wrong term trend. I imagine by next summer it will not be and this will bring people into employment. I suspect too the Xmas season may be better than some recent years with consequent temporary employment.


    Talking to a builder who has just refurned from a 2 year stint in Canada and he was bemoaning the state of the industry here. He said the problem was the pay rates which wouldn't incentivise people off the dole. He said he has been talking to a few friends who are only getting 3 to 4 days work a week but won't come of the dole and work offiically until until pay rate improve dramatically. Probably skews the unemployment figures somewhat.


  • #255
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    http://www.rte.ie/news/2014/1126/662688-unemployment-cso/

    "New Central Statistics Office figures show that the number of people in employment is now at its highest level since the end of 2009."

    "There was an annual increase in employment of 1.5% or 27,000 in the year to the third quarter of 2014, bringing total employment to 1,926,900."

    http://www.independent.ie/business/irish/number-of-people-at-work-up-again-but-rate-of-increase-eases-30776167.html

    "The rise in employment is dominated by an increase in the numbers in a full time job, which has risen by 26,100. There was an increase of those in part-time work of 1,500"

    The question was asked in this thread a couple of times as to whether the decrease in unemployment was due to emigration. Well these figures seem to answer this question conclusively. The number of jobs, real proper full-time jobs is on the increase and is steadily rising.

    Long-term unemployment numbers are also down giving hope to everyone out there who wants a job.


  • #256
    ressem
    Registered Users, Registered Users 2 Posts: 2,427 ✭✭✭ressem


    Sheldons Brain wrote:
    With the range of announcements with the web summit, the IT sector seems likely to employ more. The restoration of normality in construction will employ others and the multiplier effect will increase employment in retail, hospitality etc. Perhaps it is really 1994!

    Seems to be scientific and profession, rather than IT. 5500 new construction jobs but
    http://www.cso.ie/en/releasesandpublications/er/qnhs/quarterlynationalhouseholdsurveyquarter32014/ wrote:
    The greatest rates of decline were recorded in the Information and communication (-3.3% or -2,700) and Industry (-1.3% or –3,200) sectors. See table 2 and figure 2 above.


    I'm to be the grouch and parrot the finfacts blog on the figures.

    http://www.finfacts.ie/irishfinancenews/article_1028483.shtml
    The key sectors contributing to growth have been hotels and restaurants (+7,900), professional and scientific (+7,800) and construction (+5,500)
    • The official number unemployed is 239,500 with an unemployment rate of 11.1% - adding the 75,600 in public schemes gives a rate of 14.6%;
    • ...
    • The rise of 28,000 jobs in the 12 months to September 2014, comprises: 14,000 full-time employees; 4,000 part-time employees; 4,000 in one-person self employment; 3,000 in public schemes and a net of 1,000 in other self-employment.
    • Since the current governing coalition came to power in 2011, 85,000 jobs have been added: 34,000 full-time employees have been added; 10,000 part-time staff; 27,000 in one-person self employment; 15,000 in public schemes and a net -1,000 in other categories.


  • #257
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    Good news for many in that there's a massive fall in oil price. Brent crude down a whopping 7.2%, trading at just over $72 a barrell.


  • #258
    Kermit.de.frog
    Registered Users, Registered Users 2 Posts: 25,118 ✭✭✭✭Kermit.de.frog


    ressem wrote: »
    Seems to be scientific and profession, rather than IT. 5500 new construction jobs but



    I'm to be the grouch and parrot the finfacts blog on the figures.

    http://www.finfacts.ie/irishfinancenews/article_1028483.shtml

    You could say the same thing about every other western country. They all do the exact same thing.

    To be perfectly honest the guy that runs that site seems to have issues with Ireland in general. He never has anything positive to say. Everything has to be knocked and undermined.

    I guess he has a chip on the shoulder. He doesn't even live here AFAIK.


  • #259
    Bloc Party!
    Registered Users, Registered Users 2 Posts: 455 ✭✭Bloc Party!


    Hi folks, I'm a bit stuck on an assignment I have to do. The topic is "Using the most recent ESRI quarterly report (www.esri.ie), Discuss the short term outlook for the Irish economy over the next year in relation to monetary sector developments" Im not to sure where to start with it. I know it might seem like laziness on my part but honestly have no clue which direction I'm going with it. Any small but of help would be greatly appreciated. Thanks


  • #260
    ardmacha
    Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    Tax up 8% on last year.
    http://www.breakingnews.ie/ireland/tax-take-ahead-of-expectations-noonan-confirms-653152.html


  • #261
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,198 Mod ✭✭✭✭AlmightyCushion


    ardmacha wrote: »
    Tax up 8% on last year.
    http://www.breakingnews.ie/ireland/tax-take-ahead-of-expectations-noonan-confirms-653152.html

    Does anyone know what is it based on projections? That's the really important bit. The article says it's up on projections but not by how much.


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  • #262
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭Saipanne


    Bloc Party! wrote: »
    Hi folks, I'm a bit stuck on an assignment I have to do. The topic is "Using the most recent ESRI quarterly report (www.esri.ie), Discuss the short term outlook for the Irish economy over the next year in relation to monetary sector developments" Im not to sure where to start with it. I know it might seem like laziness on my part but honestly have no clue which direction I'm going with it. Any small but of help would be greatly appreciated. Thanks

    You need the Economics forum.


  • #263
    Sheldons Brain
    Registered Users, Registered Users 2 Posts: 1,394 ✭✭✭Sheldons Brain


    AlmightyCushion wrote: »
    Does anyone know what is it based on projections? That's the really important bit. The article says it's up on projections but not by how much.

    as per RTÉ, 3% up on projections

    Exchequer figures for November were €35m (0.6%) ahead of target according to the Department of Finance, with almost €6.2bn taken in by the State last month.
    This put the total tax take in the first 11 months of the year at almost €38.16bn, €1.13bn (3%) more than had been forecast in last year’s Budget.
    Income tax take was the main driver of this excess, with €70m (2.7%) more taken in during the month than had been forecast.


  • #264
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,198 Mod ✭✭✭✭AlmightyCushion


    Sheldons Brain wrote: »
    as per RTÉ, 3% up on projections

    Exchequer figures for November were €35m (0.6%) ahead of target according to the Department of Finance, with almost €6.2bn taken in by the State last month.
    This put the total tax take in the first 11 months of the year at almost €38.16bn, €1.13bn (3%) more than had been forecast in last year’s Budget.
    Income tax take was the main driver of this excess, with €70m (2.7%) more taken in during the month than had been forecast.

    That's great news. An extra billion more than we had planned is excellent. Hopefully that continues for the next few years.


  • #265
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    AlmightyCushion wrote: »
    Does anyone know what is it based on projections? That's the really important bit. The article says it's up on projections but not by how much.


    http://www.finance.gov.ie/sites/default/files/End%20November%20Net%20Voted%20Expenditure.pdf


    here are the Expenditure Projections, slight overspend in Education, massive overspend in Health of half a billion (can Leo sort it?) and underspend everywhere else brings the total down to less than 200m overspend. Buggest savings are in Social Welfare because more people have jobs.

    Down €1.6 bn year-on-year.


    http://www.finance.gov.ie/sites/default/files/End%20November%20Exchequer%20Returns%20Information%20Note.pdf

    Nearly all of the taxes are well above profile, more people working than expected, more people buying than expected and more properties being sold than expected.

    By my calculations this means that having aimed for an Exchequer deficit of 4.8% at the start of the year, the Government will achieve a deficit of around 3.65%, well below target. Obviously same trends have to continue in December.


  • #266
    kefir32
    Registered Users, Registered Users 2 Posts: 224 ✭✭kefir32


    AlmightyCushion wrote: »
    That's great news. An extra billion more than we had planned is excellent. Hopefully that continues for the next few years.

    yeah tax us out of existence :roll eyes: great news if there is efficiency and greater regard given to expenditure, theres always a first time i guess.


  • #267
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭Saipanne


    kefir32 wrote: »
    yeah tax us out of existence :roll eyes: great news if there is efficiency and greater regard given to expenditure, theres always a first time i guess.

    Boo, hiss.


  • #268
    draiochtanois
    Registered Users, Registered Users 2 Posts: 2,655 ✭✭✭draiochtanois


    This post has been deleted.


  • #269
    chopper6
    Banned (with Prison Access) Posts: 3,214 ✭✭✭chopper6


    AlmightyCushion wrote: »
    That's great news. An extra billion more than we had planned is excellent. Hopefully that continues for the next few years.

    Yes...more welfare christmas bonuses and overseas aid!


  • #270
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    chopper6 wrote: »
    Yes...more welfare christmas bonuses and overseas aid!

    I'd like aid to be increased, places like Syria/Palestine need it.


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  • #271
    BoJack Horseman
    Registered Users, Registered Users 2 Posts: 12,248 ✭✭✭✭BoJack Horseman


    chopper6 wrote: »
    Yes...more welfare christmas bonuses and overseas aid!

    Is overseas aid being increased?

    I thought it was remaining same as 2014 (which is a large reduction on 2009)


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