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21/7/17: What Irish Civil Service is Good For?..

Friday, July 21, 2017 14:50

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trueeconomics.blogspot.com / by Constantin Gurdgiev / Friday, July 21, 2017

Recently released data on 2011-2016 Irish Government financial metrics shows that despite all the reports concerning the adverse impact of austerity on Irish Government employees, there is hardly any evidence of such an effect at the pay level data.

Specifically, in 2011, total compensation bill for the Irish Government employees stood at EUR 19.389 billion. This 5.39% between 2011 and the lowest point in the cycle (2014 at EUR18.344 billion), before rising once again by 2016 to EUR 19.354 billion. Total savings achieved during 2012-2016 period compared to 2011 levels of expenditure amounted to EUR2.759 billion on the aggregate, or 2.85% (annualized rate of savings averaged less than 0.57% per annum.

Source: http://silveristhenew.com/2017/07/21/21717-what-irish-civil-service-is-good-for/

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