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28th Jul 2016

Wages increase in Ireland amongst the lowest of OECD countries in last eight years

Conor Heneghan

The percentage increase has been very minimal in Ireland since 2007.

A report by British Union TUC has revealed that wages in Ireland increased by just 1.6% between 2007 and 2015, one of the lowest rankings amongst OECD countries.

That figure is far below the OECD average of 6.7%, with only Czech Republic, Italy, Portugal, the United Kingdom and Greece faring worse.

Given the economic turmoil in the country in recent years, wages in Greece actually dropped by 10.4% between 2007 and 2015, a decrease that was equalled by the United Kingdom.

Portugal (- 3.7%) was the only one other country to see a drop in wages during that period, while at the other end of the scale, it proved a particularly prosperous period for Poland (where wages increased by 23%), Germany (13.9%) and Estonia (13.4%).

According to recent data, only ten countries in the OECD have a higher average wage in Ireland, which stood at approximately $46,074 in 2015 (approximately €41,550).

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