UK pay settlements running at 3.5%


UK pay settlements running at 3.5%
Pay settlements in the UK currently stand at 3.5 per cent which is unchanged from the previous quarter, according to new research.

Latest findings from the pay specialists Industrial Relations Services (IRS) show that median pay settlements in the private sector stayed afloat following an eight-year-high in February, reports.

Of the 151 pay awards in the latest quarter, seven out of ten were higher than the previous year and just 14 per cent were lower.

Moreover, the IRS report shows that these awards mark a noticeable rise to basic pay.

Sarah Welfare, IRS pay and benefits editor, commented: "Pay awards in the private sector remain high, with the hike in headline inflation at the end of last year continuing to feed through to 2007 pay deals.

"But if the low public sector pay review body awards set the tone for this year's public sector deals, we would expect this to pull down the whole-economy level of pay awards by April."

Related categories: HR / Recruitment.

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