I find these stats rather baffling for a whole number of reasons. Not least of which, whether the old “average” v. “median” debate is germane here.
And I don’t get how it seems that the large number of people who live alone - and who, on average, must earn an average income - don’t skew downwards those household averages. I don’t really understand that.
Nor whether a “household” is the primary mortgage-raising unit in society. It seems to me it has to be which means these numbers blow away any notion that houses should cost 3-5x a single income as in days of yore. That now looks total pie-in-the-sky.
The average annual income for an individual in 2009 was about E36,700.
That figure itself is based on a 32 hour working week, i.e. not full time.
E56,500 is about 1.5 times that, so for every two households there are three people working average jobs, which in itself is two people working full time (37.5*2) and one working 21 hours.
And that’s before you take in things like child benefit.
The country isn’t fucked, the banks are.
The country is actually not doing all that badly. There are some (extremely tenuous) signs of recovery.
Unemployment is at 13.6%, it’s higher than it’s been in years, but that’s not an exceptionally high rate.
It was above that rate for virtually the entire period from 1983 (and probably further back) until 1995. It was in and around 17% for much of that.
Unemployment has fallen in the last few months, yes on the back of emigration which sucks, but it still lowers government spending. Wages in the private sector seem to have stabilised, as have hours worked, the number of people employed in the private sector increased slightly between Q1 and Q2. Exports have gone up, spending has gone up, GDP and GNP have stabilised, the rental market has stabilised, we’re experiencing a very small amount of inflation rather than deflation.
Sort out the public sector, raise income taxes a little, step up job creation/marketing Ireland to companies and undertake one or two big capital projects that will pay for themselves over the years (the metro, train lines, tourist facilities) and we’re back on a track where we can live reasonably comfortably in a year or two.
I agree with your assessment and your relatively upbeat but realistic sentiment, but the banks can’t be blamed for the current budget deficit. Well maybe there is some porkfest going on around nama and the ntma right now, but the deficit spending is a definite problem, and has been since the pop.