Most Irish businesses expect to boost wages this year as they face further pay pressure from workers, a new report says.
A survey released late on Sunday says rising exports have combined with easing energy and raw materials costs to boost optimism among Irish enterprises.
“Nevertheless, challenges look set to persist in the form of wage pressures,” states the Accenture/S&P Global Ireland Business Outlook.
Most firms expect staff costs to rise over the next 12 months, the report notes. “A net balance of 64 per cent of Irish private sector companies believe wages will rise, up from 59 per cent in the previous survey period,” it adds.
The survey, completed in June, states 30 per cent of companies plan to hire more staff in the coming months, which is the highest number since February last year and the “strongest level of confidence worldwide”, states the survey.
A breakdown shows services more upbeat about employment, with one in three of them preparing to take on more workers, against just one in four manufacturers.