Business and consumer sentiment lifts as workers gear up for pay hikes

Irish business and consumer sentiment rose in January as fears about the likely impact of the Omicron variant receded. And nearly half of workers are anticipating a pay rise in the next 12 months.

The report said the improvement was linked to the acceleration of the vaccine booster campaign and signs that the Omicron wave of the virus may be less severe and relatively short-lived . Against a backdrop of high inflation and a tightening labour market, the January research also took a look at wage expectations for 2022. The findings showed that 46 per cent of workers are anticipating a pay rise in the next 12 months , while half of companies – a series high – are planning on increasing basic pay for their employees .

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