Irish workers fare well in EU pay rise survey

Irish workers will enjoy a greater percentage pay rise than most of their EU colleagues next year, a new study has revealed.

Pay is expected to outpace inflation by 1 to 3.5 percentage points in most countries in the EU according to the report by Mercer Human Resource Consulting.

But employees in Ireland are predicted to receive large pay rises of 4.4% while inflation is forecast to be 3.2%.

Forty of the 63 countries covered in the survey will have pay increases which outpace inflation by 1 to 3.5 percentage points.

The report reveals distinct differences in pay and inflation trends across various regions of the world.

Average pay increases in 2004 are expected to be highest in the EU in Greece, at 5%. However, inflation here is likely to be relatively high too, at 3.5%.