Good-paying jobs in Ireland are becoming increasingly important to the economic future of the country, and according to the latest data from the Bureau of Statistics (BSIS) it is a job which is gaining in importance and value.
The figures, released on Friday, showed that the number of good-paid jobs in the Irish economy increased by 5.2 per cent from 2015 to 2016, a 1.9 per cent increase.
It also saw a 3.3 per cent growth in the number with a median salary of €50,000.
It was the biggest jump since the BSI began tracking this in 2016.
It followed a similar increase for the number in the middle-earner bracket in 2016, and is set to be one of the fastest growing sectors of the economy over the next decade.
“This is good news for Ireland as we are seeing a rise in jobs in all industries, with higher levels of employment in some sectors,” said BSSI chief economist Paul Kelly.
“The BSSIS believes the positive trend will continue, with an overall gain of jobs in 2020 of 9,400, a 0.6 per cent gain from the previous year.”
Mr Kelly said it is important to note that while the increase in good-pay jobs has been a “long time coming”, he said that the overall numbers are now higher than the previous years.
However, it is not all good news, with the number still struggling to grow in sectors such as education, the health service and retail. “
A large part of the good pay gain in Ireland has been in the leisure and hospitality sector, which has been experiencing a decline in its pay over recent years, with this trend set to continue,” he added.
However, it is not all good news, with the number still struggling to grow in sectors such as education, the health service and retail.
The good-earning job sector is not only seeing strong growth in wage growth but also in the proportion of workers who are in this sector, and its share of total pay growth is still significantly below the OECD average of 9.3 percentage points.
It is not just that good pay is growing in the sector, but that it is growing at a rate of around 4 per cent a year.
This has been achieved by companies moving into sectors where wages have not been increasing and investing in better technology and skills.
The BSSIs research shows that the sector was up by 9.5 per cent in the last 12 months and the overall employment rate in the good- paying sector increased by 2.5 percentage points to 68.7 per cent.
It remains to be seen how the sector will react to Brexit, but the increase is a positive sign.
“Given the significant changes that the EU has made to its own laws, its economy and the way that the economy operates, there is an expectation that the new EU deal will create an environment that will create jobs and economic growth in Ireland,” said Mr Kelly.
