Pay rates in economy remain stable in third quarter
Pay rates across the economy remained broadly stable in the third quarter of the year, in line with the trend over the past five years.
Average weekly earnings stood at €695 in the third quarter, according to data published yesterday by the Central Statistics Office (CSO). In 2008, when the figures were first compiled, average weekly earnings were marginally higher at €697 in the third quarter of that year.
On an hourly basis, average earnings were €22 in the third quarter. By this measure there has been a very slight trend increase in earnings. Average hourly earnings in 2008 stood at €21.60.
When adjusted for inflation, earnings growth has been marginally stronger. In the first 10 months of 2012 the consumer price index remained 1 per cent below the full-year level recorded in 2008.
The earnings figures are not adjusted for seasonal factors and are thus quite volatile from one quarter to the next.
Weekly earnings in the private sector rose by 1.6 per cent over the year, compared with a rise of 0.9 per cent in the public sector (including semi-State organisations). This brought average weekly earnings in the third quarter to €617.94 in the private sector and €925.51 in the public sector.
The number of people employed in the public sector fell 4.1 per cent in the first three quarters of the year to 377,900.
The CSO said earnings increased in eight of the 13 sectors examined. Workers in the professional, scientific and technical sector saw the largest percentage increase, with their pay packets growing by an average of 8.4 per cent in the first nine months of the year.
Those employed in the accommodation and food services sector saw their pay fall by 5.1 per cent in the same period.