'Unsustainable' wage growth to cool this year amid rising inflationary pressure

As real wages continue to decrease, 68% of employers expect salaries in their specific sector will rise in 2023

2022 saw a second consecutive year of significant salary growth following an increase in cost-of-living pressures and competition for staff amid growing shortages

As inflationary pressure continues to force upward pressure on salaries, Irish employers will be more cautious this year with 2023 expected to mark the end of large-scale wage growth.

An analysis by Morgan McKinley anticipates pay rises this year of just 5% across a range of sectors, marking the end of "skyrocketing" wages that analysts say have become "unsustainable."