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Summertime ... And The Livin' Is Easy

Posted by Senan

It's summer and the sun is out (sometimes!). Most people are marginally happier than they were 3 months ago because:

1) sunshine makes you happy
2) time heals
3) markets have rallied somewhat

Right up to the local and European election we were spitting fire at all things government and all things economic. Then the market rallies from its March lows, and summer hits and all is forgiven and forgotten. So what really has changed? The dole queue is longer and the growth predictions worse. And of course the Dail is about to recess for the summer. What better way to be proactive on the current economic woe than the go off for an 'oul break! Maybe they reckon if they draw a line under the nations stress we'll all just come back in September with renewed vigor and productivity and love of Fianna Fail...doubt it.

A report in yesterdays Sunday Independent highlighted disparities between public and private sector wages. Also over the weekend the Labour Court recommended and 4% or so pay rise for electricians. My take home has come down significantly in the last 6 months. What gives? Have the powers that be (employers) no power, they were originally asking for a 10% pay cut (so that's a 14%+ swing). Will this pay rise not put other construction jobs at risk? We're no longer in the era of invincible developers (Laragan recently went belly up leaving depositors holding the can). I presume the Labour court looks at all these issues, so I will await their reasons for the recommendation with interest. I'll reserve my full vitriol until I see what happens with the Bord Snip Nua report. In fairness I have some sympathy for the current administration as they are definitely in the wrong place at the wrong time. However, now that they are there we expect leadership, direction and a coherent plan.

Comments (0)13 July 2009

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