DUBLIN: More than half of the country’s workers are expecting higher revised wages as the new pay deal comes into force in Ireland. The pay increase was definitely required given the current state of rampant inflation and price hikes.
Meanwhile, there was a dispute between the trade unions and the government over the scale of the wage hike, with CIPTU threatening a strike.
The Workplace Relations Commission has also intervened in this matter, and the salary agreement report comes amid ongoing negotiations.
Employees are expected to see a 4% increase in wages. But it has also been criticized that this increase is too low when compared to the rate of inflation in the country. Last month, the rate of inflation in the country was 9.6 percent.
There is a severe shortage of workers in services, retail and construction. Also, employees are quitting their jobs. Bank of Ireland Group Chief Economist Dr Loretta O’Sullivan said workers in Ireland are optimistic about pay rises.