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Compensation of Employees

Compensation of Employees

Compensation of Employees decreased by -0.5% in Q4 2024

Online ISSN: 2009-5775
CSO statistical release, , 11am
Table 7.1 Compensation of Employees by Nace Rev. 2 A10 Sector of Origin, Q4 20241
 Amount €mQuarterly % change
Public Admin, Education and Health9,7851.1
Distribution, Transport, Hotels and Restaurants6,086-4.8
Professional, Admin and Support Services5,287-2.0
Industry (excl. Construction)4,3362.2
Information and Communication3,195-0.1
Financial and Insurance Activities2,5523.1
Construction1,6052.3
Arts, Entertainment and Other Services717-0.6
Agriculture, Forestry and Fishing322-12.0
Real Estate Activities288-5.7
Total34,173-0.5
1Constant Market Prices, seasonally adjusted.

On a seasonally adjusted basis, total Compensation of Employees at constant market prices decreased by -0.5% in the fourth quarter of 2024. Distribution, Transport, Hotels and Restaurants declined by 4.8% on the previous quarter while both Industry (excl. Construction) and Construction grew by 2.2% and 2.3%, respectively. 

`-ConstantCurrent
2018Q1-0.7008505192234280.816215373003137
2018Q24.073277628701092.87483949917542
2018Q30.02287891115835271.89246026261647
2018Q41.771398528296420.931816246542372
2019Q11.400972474439933.28400963403446
2019Q20.5094769167066641.87466260026874
2019Q30.5181039464575930.237303436586012
2019Q40.8317203450385343.17590049212566
2020Q1-1.376726809990390.84849098892279
2020Q2-12.436142933883-12.4874051095703
2020Q314.3336639418047.81267602428004
2020Q4-1.750221054785027.85623065516428
2021Q1-1.42118513137488-3.05794322941263
2021Q25.903910158898865.44278793447002
2021Q32.827522159430924.90827891600734
2021Q43.412328500736343.5078143168501
2022Q12.06415122095802-0.599448418406057
2022Q20.3429844687801162.80760412842036
2022Q30.9668780737203341.94783021276257
2022Q41.063452392295792.46123399936913
2023Q11.183091493579365.21134017809792
2023Q20.7081477442733461.29842695740245
2023Q30.2463649952252340.161411900776232
2023Q40.4683859749103242.81916492601986
2024Q11.452974244361993.21915720491746
2024Q20.702245793268008-0.0649024880588489
2024Q30.4710235942202880.282766845254412
2024Q4-0.4920918001977912.8630470169307
Column1Q4 2024Q4 2023
Public Admin, Education and Health9.9324963419.500841
Distribution, Transport, Hotels and Restaurants6.0465251936.478397
Professional, Admin and Support Services5.0377787325.085721
Industry (excl. Construction)4.1452765083.878526
Information and Communication3.1901843332.954817
Financial and Insurance Activities2.5000095272.309103
Construction1.5357385671.3954418
Arts, Entertainment and Other Services0.724504930.780104
Agriculture Forestry and Fishing0.3208810910.3157375
Real Estate Activities0.2977916270.2143832

On a non-seasonally adjusted basis, Compensation of Employees at constant market prices increased by 2.5% in Q4 2024 compared to the corresponding period of the previous year. Notably, Construction experienced growth of 10.1%, while Distribution, Transport, Hotels and Restaurants declined by 6.7%.

ForeignDomestic
Q1 20209.146071889618.6052281446
Q2 20208.110919604216.0302876123
Q3 20208.032298813717.6271371348
Q4 20208.819246410119.7317902728
Q1 20219.388773952717.9631010452
Q2 20219.134478433519.5598259222
Q3 20218.877179364220.8396932338
Q4 20219.613344937621.895703555
Q1 202211.019901603820.1707655753
Q2 202210.489844710521.3612284203
Q3 202210.256972164721.6491265284
Q4 202210.66001248822.9827196905
Q1 202312.493843876522.9573830232
Q2 202311.752527069523.7205485919
Q3 202311.187347327323.7137782066
Q4 202311.729690037324.995295026
Q1 202413.353820127825.0493450569
Q2 202412.378325449125.3306847224
Q3 202411.685177692525.3465138809
Q4 202412.508909123526.3938789156

In Q4 2024, €26.4 billion was compensated to employees of Irish-owned enterprises, while €12.5 billion was paid to those employed in foreign-owned enterprises.

Foreign-owned enterprises are identified by using institutional sector codes which are outlined in The European System of Accounts. Institutional units are any unit that has autonomy of decision and/or a complete set of accounts. Foreign controlled enterprises are any unit with the following institutional sector code: S.11003, S.12203, S.12303, S.12403, S.12503, S.12603, S.12703, S.12803 and S.12903. The foreign/domestic split is calculated using PMOD company level data.

An estimate of jobs in foreign-owned enterprises is given in table 7.6. This estimate is derived from payroll records in the Revenue PAYE Modernisation file and gives an approximation of aggregate jobs in the foreign-owned sector. A preferred analysis of jobs is to look at the churn rate. The CSO publishes an analysis of labour market churn each quarter which better tracks the movement of employment and jobs across time and economic sector (see: Labour Market Churn Q2 2024 - Central Statistics Office).

Column1Q4 2024Q4 2023
Public Admin, Education and Health740.6085491604709.3187239748
Distribution, Transport, Hotels and Restaurants564.4696328632573.333018771
Industry (excl. Construction)316.7009063727302.4621048741
Professional, Admin and Support Services238.8828764303243.4166223137
Information and Communication164.5083333928151.1212759684
Construction124.5372104007114.3123957182
Financial and Insurance Activities122.4039785827117.2011288023
Arts, Entertainment and Other Services85.705163845289.7705044006
Agriculture Forestry and Fishing29.23932958929.4837544968
Real Estate Activities10.78374274877.9236432634
Table 7.2 Compensation of Employees1 by Nace Rev. 2 A10 Sector2 of Origin at Constant Market Prices (Chain linked annually and referenced to year 2022)

Table 7.3 Compensation of Employees1 by Nace Rev. 2 A10 Sector of Origin at Constant Market Prices - Seasonally Adjusted (Chain linked annually and referenced to year 2022)

Table 7.4 Compensation of Employees1 by Nace Rev. 2 A10 Sector2 of Origin at Current Market Prices

Table 7.5 Compensation of Employees1 by Nace Rev. 2 A10 Sector2 of Origin at Current Market Prices - Seasonally Adjusted

Table 7.6 Breakdown of Compensation of Employees by Foreign and Domestic Enterprises

Table 7.7 Total number of Employees1 by Nace Rev. 2 A10 Sector2