IMPACT — MEDIUM
The Irish government announced that it would increase the minimum wage by 7% in 2023.
Additional Information: The minimum wage is relevant to all workers in Ireland, including employee card holders whose wages cannot be lower than the minimum wage. Foreign workers must be paid above the minimum wage.
BAL Analysis: Businesses may see a slight increase in labor costs because of the new minimum wage. Employers should take the new wage minimums into account when planning their 2023 budgets.
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