Irish pay ‘rising faster than other developed countries’

A worldwide survey has reportedly found that pay rates in Ireland are increasing faster than in many other developed countries.

Reports today said the survey by an international firm of consultants had found that Irish workers would get an average pay increase of 4.2% this year.

This is higher than the increases set to be enjoyed by French, German, Spanish, British and US workers.

However, today's reports said inflation was eroding much of the benefit to Irish employees.

With inflation taken into account, Irish workers will only benefit from a 1.8% increase, compared to the global average of 2.4%.