The national minimum wage in Ireland is €11.30 per hour since January 1, 2023. However, some people get sub-minimum rates, such as people aged under 20. The national minimum wage does not stop an employer from offering a higher wage. It was announced in Budget 2024 that the minimum wage will increase from 1 January 2024. The national minimum wage for people aged 20 and over will increase by €1.40 to €12.70 per hour. Different rates of pay apply to certain sectors, such as those employed by a close relative, in a statutory apprenticeship, or aged under 20. The increase in the minimum wage is in line with a recommendation from the Low Pay Commission. The Irish government has approved a 12.4% increase in the national minimum wage for 2024 as part of the annual budget. Businesses may see a slight increase in labor costs because of the new minimum wage. Employers should take the new wage minimum into account when planning their 2024 budgets.