Salaries rising again as private sector workers enjoying higher increases than public service
SALARIES are rising again with private sector workers enjoying higher increases than public sector workers, according to new data published by the Central Statistics Office today.
The figures show the average weekly salary in Ireland in the third quarter came in at €694.96 or 1.1pc more than the same period last year.
The average worker puts in just 31.6 hours a week which mean the average hourly wage is now at €22.
The hourly wage has gone up 1.9pc in the past year, rising faster than total salary because people are working less.
Salaries in the public sector continue to outstrip the private sector by almost 50pc but the gap is narrowing slightly as the private sector awards itself bigger pay increases than the public sector.
The latest CSO figures show weekly earnings in the private sector rose by 1.6pc annually, compared with an increase of 0.9pc in the public sector (including semi-state organisations) over the year, bringing, average weekly earnings to €617.94 and €925.51 respectively.
In the last three years, public sector earnings have fallen by 4pc compared with an increase of 1.4pc in private sector.
Those working in the arts, entertainment, recreation have endured the largest pay cuts over the last four years with salaries falling 12.2pc.
Ironically, those sectors most responsible for the economy’s collapse have also seen the largest pay increases with gains of 5.1pc in financial services and real estate sectors.