Drive on: truck drivers and construction workers see the biggest pay rises
As the labour market tightens, truck drivers and construction workers appear to be benefitting most in terms of pay increases.
For truck drivers, advertised average salaries increased by almost a fifth between 2017 and 2018, to €32,000, according to global jobs site Indeed.
Meanwhile, as the construction sector booms, managers in the sector experienced advertised salary growth of 18pc over the same period to €57,000.
Growing wage pressure in the construction sector is further evidenced by the latest pay claim from construction sector unions, who are looking for a 12pc increase over three years.
Meanwhile the Construction Industry Federation recently warned that nine of ten companies in the sector are struggling to recruit skilled workers.
Cost estimators saw a similar increase – 18pc – in the salaries in job ads that employers use to attract new hires, with wages of €48,000 per year being advertised for roles in the sector.
Pawel Adrjan, economist at Indeed, said: "The continuing decline in the rate of unemployment is creating an increasingly competitive labour market that is likely to spur further wage growth."
"Average weekly earnings in the final quarter of 2018 were up 4.1pc on the prior year according to recent CSO data. This was an acceleration in the pace of growth, that looks set to persist if the current trend of falling unemployment continues."
Mr Adrjan added that with inflation remaining low these increases will translate into real wage growth and are likely to feed through into increased consumer spending and confidence.
Evidence suggest that wage increases will increase into the future, however this is part dependent on Brexit.
In the event of a no-deal Brexit there remains "considerable" downside risk to economic growth and employment, that would almost certainly cause wage growth to soften, Indeed warned.