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More than 2/3 of Irish workers have no pension

Written by Robert McHugh, on 12th Jan 2018. Posted in Ireland

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Cpl recruitment has today released its latest Employment Market Monitor for the fourth quarter of 2017 which reveals that 54% of employees who responded to the survey are unable to save on their current salary. Despite the upswing in the economy, these employees find the cost of living does not match their wages. 
  
A further 68% of employees have no pension plans. Despite the advice to start pension preparation as early as possible, this group of just under 2,000 employees (aged between 18 and 55 years) have not planned for their retirement
  
The Index for the fourth quarter, 2017 showed stability in the number of jobs posted in sectors largely representative of the FDI sector in Ireland. The index refers to the following four sectors - IT & Telecoms, Science, Engineering & Supply Chain, Sales & Marketing and Accountancy, Finance & Banking.

In the final quarter of 2017, there were 2,371 jobs posted in the four sectors mentioned. The Accountancy, Finance & Banking sector, in particular, continued to perform very strongly. 
  
Commenting on the figures, Director at Cpl Resources, Peter Cosgrove said, "We are continuing to move towards full employment which means that jobs growth will likely stabilise in the next few quarters. With unemployment presently at just above 6%, jobs growth will be about finding the best candidates in Ireland or from abroad."

He added, "Nonetheless, we still need to be aware of the pace of change and the impact this has on the future of jobs and education. The impact of AI on jobs is expected to be profound – a recent McKinsey Global Institute study suggests that between 400 million and 800 million individuals could be displaced by automation and need to find new jobs by 2030. As a result, government, employers and employees must focus on what can be done to protect jobs through upskilling and education."
  
Source: www.businessworld.ie

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