The report also found that younger people were experiencing wage stagnation, and that their situation was exacerbated by the high cost of rent.
The ESRI states that before the pandemic, younger people were already at a disadvantage from what it calls the "still-lingering" effects of the 2008 financial crisis. While some recovery has taken place with the lifting of public health restrictions, younger workers remain at a disproportionate disadvantage.
It notes that fewer than a fifth of workers aged 40-60 work in these vulnerable sectors, compared to more than a third of those in their early 20s."Earnings have also stagnated for young adults entering the labour market in recent years, with workers in their early 20s earning less in the 2010s than they did in the 1990s or 2000s ," the ESRI finds.
Over a fifth of those born in the 1980s were paying more than 30% of their disposal income on housing at the age of 30 - compared to just 13% of those born in the 1970s, and just 10% in the 1960s. ESRI economist Barra Roantree described the findings as a cause of serious concern.
To give housing, tax free, to foreign vulture funds on top of this - locking young people out of ever owning their homes - is unforgivable.
The only way out is to renege on our cripplin debt, withdraw from the Euro and declare an end to the second Republic (The first one ended with the Troika) The alternative is Ireland becoming a Foreign owned Vassal State.. Is this what people died for in 600 years of oppression?
Catastrophic Mis management by Fianna Fáil, access to European cash by Irish Banks led to a situation that everyone knew was going to lead to disaster. The Banking system was only rescued because of knock on effects it was going to have on the Euro.Its been on life support since