Settlements trail inflation
Article Abstract:
Annualized pay increases in the trailing quarter remain at 3% as they have for the past 3 months despite inflation's rise to 3.5%. While several factors explain or mitigate the stagnant settlements, they could signal a break in the longstanding link between inflation and pay hikes. Companies are increasingly using profit-related pay and profit-sharing to boost take-home income, rather than higher basic pay. Employment is also still high, and pay raises must overcome an atmosphere of general insecurity .
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1995
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Settlement levels respond to falling inflation
Article Abstract:
UK pay settlement levels dropped .5% in the three-month period ending April 1996 as a result of lower inflation, although the picture for subsequent wage settlements remains unclear. Pay awards have averaged 3.5% since Nov. 1995 prior to this downturn. However, awards have continued to stay ahead of inflation. Companies with strong profits are giving larger increases, while manufacturing sector settlements continue to average more than in the service sector.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1996
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