Real incomes squeezed as wage growth fails to keep up with rising prices

Average weekly earnings across the whole economy for private and public employers rose by just over 2% in the final three months of 2023

Economist Jim Power said the CSO wage growth figures mark a squeeze on real incomes.

The squeeze on real incomes has continued, as wage increases across the private sector is outpaced by rising prices, CSO figures suggest. 

Average weekly earnings across the whole economy for private and public employers rose by just over 2% in the final three months of last year from the same period a year earlier, the figures show.