Latest CSO data shows average weekly earnings for all workers in the Republic rose by 4.3 per cent year-on-year to €909.77
Workers in the financial, insurance and real estate sector saw average wages fall by 10 per cent. to €1,339.81.
Policymakers fear that if workers demand higher wages to compensate for ongoing cost-of-living pressures, inflation will ultimately be harder to bring down. Underlying price growth has been a key focus of the European Central Bank – it was rising at a rate of 6.6 per cent in the Republic in July – amid concern the initial price surge has spread out to other parts of the economy and may be driving higher wage demands.
Workers in the accommodation and food services sector were the worst paid, with average weekly earnings of €431.85 in a sector includes many part-time staff. Average hourly total labour costs were €32.77 across all economic sectors in the three months, the CSO said.
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