Break the pay chains, and jobs will follow

Last week's Supreme Court ruling is hugely positive news for our outlook, as Irish businesses will now be more competitive as a result, writes Richard Eardley.

In 2008, there were 274,000 people working in the Irish construction sector -- but today, the figure is under 100,000. Photo: Thinkstock

Last Thursday's Supreme Court ruling, which declared Registered Employment Agreements unconstitutional, paves the way for major change in Irish labour markets. The ruling effectively dismantles the mechanisms which have supported wage structures in many of our business sectors.

Areas such as construction, hotel and catering, retail and agriculture employ a large number of people. So the impact of the rupture of wage protection protocols will have a profound effect on the jobs markets ...