New minimum wage rate begins today

New minimum wage rate begins today

Around 124,000 workers are expected to benefit from the new National Minimum Wage rate which comes into effect today.

As part of Budget 2016, the hourly rate will increase by 50c to €9.15.

Alongside USC and PRSI cuts, a single person working full-time on the minimum wage will now see an annual boost to their income of €708 a year, or €14 a week.

Minister for Business and Employment Ged Nash said that this is good news for the lowest paid workers.

"This will mean for example, for a single worker, working a full-time job, working a full week, will receive a net pay increase of €708 a year," he said.

"For a single earner in a couple, who would be working full-time in a minimum wage job, they would receive just less than €1,000 a year, net, as a result of this increase, so this is good news for the lowest-paid workers in our society."

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