Wages

Employers plan to raise pay by 4% this year

Irish businesses see inflation and a tight labour market as main drivers of increase

Unemployment dropped slightly last month to 4.1 per cent from 4.2 per cent in June

Irish businesses expect average employee pay to increase 4 per cent in 2024, according to research from WTW, the employee benefits company.

The average increase this year was 4.5 per cent, the research found.

Inflationary pressure is the main concern influencing salary budgets, cited by nearly three-quarters (71 per cent) of employers surveyed in Ireland.

This was followed by concerns over a tighter labour market, cited by 55 per cent of the surveyed firms.

It ...