The number of people receiving the Covid-19 Pandemic Unemployment Payment (PUP) has fallen slightly for the first time since it was launched on 16 March. 589,000 people will receive the €350 payment this week, a decrease of 9,000 compared to last week. However, it is believed that some of the fall is due to employers re-hiring…
Tag Archives: Economic welfare
The chief executive of Bank of Ireland has said she does not currently see repayment breaks for borrowers who are struggling financially because of the Covid-19 crisis being extended beyond the six months agreed by the main banks here. Francesca McDonagh said the sector had been proactive in agreeing payment breaks initially for three months…
The unemployment rate for April, as measured by the Covid-19 adjusted measure, jumped to a new record high of 28.2%, new figures from the Central Statistics Office show today The CSO said the Covid-19 crisis continued to have a significant impact on the labour market here in April. The new Covid-19 Adjusted Unemployment rate rose…
China’s exports saw a shock 3.5% rise in April despite the global impact of the coronavirus pandemic, official figures showed today, but analysts warned of weakness ahead as key markets suffer downturns. The brewing threat of a renewed trade war with the US could also pose a problem, observers said. Imports fell 14.2% on-year, a…
More than 427,000 workers are now having their wages subsidised by the Government under the Temporary Wage Subsidy Scheme, according to the latest figures published by the Revenue Commissioners. More than 50,900 employers have registered for the TWSS with the Revenue Commissioners, who administer the scheme. Of those, 43,000 have already received subsidy payments. In total,…
Manufacturing in Ireland is going through record falls in output and employment, according to a new survey. The AIB Manufacturing Purchasing Managers Index shows that in April output, new orders, exports and purchasing all fell at the fastest rates ever recorded. The survey also found that it is taking longer for suppliers to deliver raw materials…
Banks should rein in bonuses to boost their capacity to help businesses and households hit by the coronavirus crisis, the European Union’s executive said today. The European Commission set out a fresh package of temporary “quick fixes” offering capital relief that would support extra lending potentially worth up to €450 billion to companies struggling as…
Ratings agency S&P Global Ratings has revised down its outlook for three of the main Irish banks from stable to negative, saying that downside risks for the banks’ financial profiles remain substantial. However, the agency has affirmed the current ratings of AIB, Bank of Ireland, Permanent TSB and KBC Bank Ireland. It has also not…
It is the time of the year when many companies are due to hold their Annual General Meetings, however, because of the Covid-19 crisis, and social distancing requirements, many AGMs have been rescheduled or postponed. Companies have found their firms in a Catch 22 situation – A company must have a physical AGM in order…
591,000 people are now receiving the Covid-19 Pandemic Unemployment Payment, with around 21,000 receiving it for the first time this week. That is on top of around 212,000 eligible for standard “non-Covid” Jobseekers benefit of €203 per week, and 337,400 receiving income support through the Temporary Wage Subsidy Scheme. The Minister for Employment Affairs and…