A new ESRI study, funded by the Low Pay Commission, found that the 2016 minimum wage increase led to higher labour costs among firms with more than half of their employees on the minimum wage.Compared to a firm with no minimum wage employees, a firm that pays all of their workers the minimum wage experienced a 5% increase in their average weekly labour costs.
There was no evidence that firms reduced their number of employees in response to the minimum wage increase the study also found. Dr Paul Redmond, an author of the report said: “Labour costs are a key indicator of country-level competitiveness and our research shows that the 2016 changes to the minimum wage had no significant impact on the labour costs of the vast majority of Irish firms that employ minimum wage workers.
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