Wages for staff in the financial sector rose by more than those for workers in industry in the 12 months to December 2007, according to a report released today by the Central Statistics Office.
It found that hourly earnings including irregular bonuses rose 4.4 per cent, from €19.93 to €20.80 per hour in the industrial sector. The report also found that the employment growth in this sector was relatively low, rising by just 1,800 to 2451,500.
Staff working in financial services received on average a 6.3 per cent increase in hourly wages to €29.53 per hour, although once bonuses were removed the increase was just 1.8 per cent.
The number of people employed in this sector rose by 7,200 to 85,100 over the period. Inflation over this 12-month period ranged from 4.9 per cent in December 2006 to 4.7 per cent in December 2007, never falling below 4.6 per cent.