The 2015 Living Wage has been calculated by the Living Wage Technical Group. It is €11.50 per hour. The new figure represents an increase of 5c per hour over the 2014 rate (€11.45). The increase has been driven by changes in the cost of living and changes in the taxation system over the past year.
The Republic of Ireland Living Wage was established in 2014 and is part of a growing international set of similar figures which reflect a belief across societies that individuals working full-time should be able to earn enough income to enjoy a decent standard of living.
During the past year reductions in the cost of health insurance, lower transport costs, cheaper energy costs and falling food prices all put downward pressure on the Living Wage. The reduction in the USC in the last Budget had a similar effect. However, these effects were overshadowed by increases in housing costs, more expensive household goods and services and higher car insurance. Rising rents, in particular in Dublin, were the main driver of the hourly increase.
Full details including the new 2015 document are available on the living wage website www.livingwage.ie
The NERI is one of a number of organisations with staff members participating the the Living Wage Technical Group.