Covid-19 Impact on Average Earnings
Earlier this year, the Government announced that income tax revenues for 2020 were only down 1 per cent compared to 2019. Preliminary estimates for Q4 2020, set out in the latest CSO release in their Earnings and Labour Costs series, show unadjusted average earnings up 5.5 per cent on the previous year to €844.98 per week or €25.56 per hour. But these announcements are not cause for celebration, they provide further evidence that Covid-19 has disproportionately affected lower earners.