Business group: Minimum wage hurting jobs growth

A leading business group has called for the “blunt instrument” minimum wage to be scrapped to help kick-start the economy, saying the legal pay level is stopping firms employing new staff.

Irish Small and Medium Enterprises (ISME) chief executive Mark Fielding made the claim during an Oireachtas jobs committee meeting yesterday, as a separate business group said it is too soon to raise pay rates.

Mr Fielding told the cross-party body he is aware of small businesses that are “holding off” on employing more staff as they will not be able to afford any potential increase on the €8.65c per hour minimum wage.