Around 124,000 workers are set to benefit from the introduction of the new national minimum wage of €9.15 per hour from tomorrow.
The new hourly rate represents an increase of 50c on the previous figure and is the second increase to the minimum wage since 2011.
The decision to increase the rate followed the first report of the Low Pay Commission, an independent body tasked with examining the appropriate rate of the statutory minimum wage.
Alongside the hourly pay increase, employer PRSI thresholds are being adjusted from 1 January to ensure that an increased PRSI burden does not fall on minimum wage employers.
The increase will mean that the minimum wage has been increased by nearly 20% during the lifetime of the current Government.
Commenting today Minister for Business and Employment Ged Nash TD said: “Alongside USC and PRSI cuts announced in the budget, a single person working full-time on the minimum wage will see an annual boost to their income of €708 per annum or €14 a week.
“While a married couple with a single income will be €911 better off per year, or have €18 euro a week extra in their pockets."