The Minister for Labour Affairs, Tony Killeen, is to consult the Economic and Social Research Institute before deciding whether to increase the minimum wage.
The Labour Court has recommended raising the minimum wage by €1 to €8.65.
Minister Killeen says he is obliged to consider the impact of any such pay hike on national competitiveness and the economy.
Speaking on RTÉ Radio's Morning Ireland, he said he will make his decision before the end of the year, and he will not be swayed by the forthcoming election.