May 1st: Irish wages are uncompetitively low and this is undermining any nascent recovery that may be taking place, according to Unite researcher Michael Taft. He was speaking in Cork today at the Labour Market Conference organised by the Nevin Economic Research Institute in association with University College Cork. A copy of his presentation is available here.
“We have suffered six years of a domestic-demand recession – fuelled by the crisis in the private financial and speculative sectors and exacerbated by austerity measures; measures that have proved inefficient and highly damaging.
“The suppression of labour compensation has played a significant role in this. Wage suppression has led to countless enterprises being liquidated, and countless others not being established?
“Unite has consistently argued that we need wage-led strategies to reverse this.
“Both economic efficiency and social equity demand that we focus first on the lowest-paid in our economy, by increasing the minimum wage, implementing Living Wage strategies and strengthening labour rights in the workplace”, Michael Taft concluded.