Hike of 6% in ISME’s wage bills

WAGE bills at Irish Small and Medium Enterprises increased by 6% in the last year, well ahead of inflation and more than twice the increases in wages in the eurozone.

The increases are just behind 2003 (6.2%), but the annual survey by the Irish Small and Medium Enterprise Association (ISME) indicates that wages have increased by almost 20% over the last three years, in comparison to 9% in the rest of the EU.

The organisation has identified stealth taxes, a tightening of the labour market and the lack of affordable housing as the key drivers of wage inflation in the Irish economy.