November 29, 2020
Business News

Kilkenny earnings are just 75% the national average

By COLIN BARTLEY

EARNINGS in Kilkenny are just 75% the national average, while the South East as a whole earns just half the national average.

That’s according to a major economic survey focusing on counties in the South East region.

The South East Economic Monitor, written by Waterford Institute of Technology academics found people in Kilkenny earn 72% the national average. Wexford people earn half of this, at just 39%.

The economic monitor takes into account job creation, minimum wage, employment and tax returns, then analyses the results.

The report blames the lack of high-quality jobs in the region as the main reason it lags so far behind the rest of the country in terms of earning power.

Despite growth of 3.3% in the region between Q1 2018 and Q1 2019, the economies of Kilkenny, Carlow, Waterford, and Wexford are growing at a slower rate than the rest of the country.

According to the report, the South East region ranks last in capital investment and projects, and receives roughly one-third of the investment in higher education compared to other regions, leading to a brain drain.

The report was damning towards Industrial Development Authority (IDA), the state body responsible for attracting foreign direct investment. It found just 5 % of all IDA supported jobs were in the region, an area where 9% of the population live, while visits to the region by the IDA decreased over the past 12 months.

Enterprise Ireland is praised in the report for supporting start-ups in the region.

For more information, you can visit the website:

http://www.wit.ie/schools/business/south-east-economic-monitor

 

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