Off-farm employment opportunities are crucial to economic sustainability for many farm families. That has always been the case, and I am pleased that the economic recovery has generated additional employment opportunities in many rural areas. On almost half of all farms, either the holder and/or spouse has off-farm employment.
Teagasc released the preliminary results of the National Farm Survey 2016 recently, which showed average farm income of €24,000. However, there are significant differences in farm income depending on the farming system and size of farm. It should be borne in mind that almost two-thirds (64%) of the farms represented by the National Farm Survey are classified as part-time based on labour input required. These farms had an average family farm income of €11,355. The remaining 36% of farms are classified as full-time, based on labour input required, with an average family farm income of €46,500.