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ICTU recommends private sector pay increases of 4% to 6%

The Irish Congress of Trade Unions (ICTU) is recommending that unions in the private sector should seek to secure pay increases in the range of 4% to 6% in 2024.

The Private Sector Committee of the ICTU said its pay bargaining guidance was based on an analysis of the prevailing conditions in the private sector of the economy.

The committee said unions should seek to improve the position of lower-paid workers through measures such as improving new entrant rates of pay.

ICTU also recommended that unions should strive to secure and protect weekly working hours; introduce and enhance service pay award; and secure additional non-pay benefits such as shorter working time, additional annual leave, increased sick pay benefits, and improved pension benefits.

Economic forecasts are projecting inflation in the region of 3% in 2024, but ICTU said pay increases will need to exceed that figure as workers are playing catch-up following real wage declines in 2022 and 2023.

“Ongoing gains in labour productivity across the economy and the need for cost of living ‘catch-up’ must be factored into consideration,” said ICTU General Secretary Owen Reidy.

“As such, it is appropriate for unions to seek pay increases in the range of 4% to 6% in 2024,” Mr Reidy said.

A public sector pay deal which will provide for pay increases of 10.25% over a two-and-a-half year period was agreed last month at the Workplace Relations Commission (WRC).

Public sector unions are expected to ballot their members on the deal over the coming weeks.

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