Settlements follow inflation
Article Abstract:
British pay awards in the year ending Oct 1997 have increased from the 3% mark for the first time since Mar 1996, and provisional figures from Industrial Relations Service's data bank show that the headline measure of whole-economy pay reviews increased to 3.3% in the 3 months ending Oct 1997, representing a rise of .3 percentage points from the 3% plateau of the last 18 months. Economic expansion, a tighter labor market and higher inflation have increased wage settlements, confounding the view of some commentators that lengthy wage stability meant a historic break in the connection of prices and wages.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1997
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Settlements static in 1996/97
Article Abstract:
Flat inflation has meant British settlements have not increased during 1996-97 talks, this despite an accelerating economy and fewer job openings. The Board of Revenue's whole economy wage reviews have been fixed at 3% through 18 consecutive quarters, since Apr of 1996. The flat pay trends of the private sector have mirrored those of the whole economy. As the recovery speeds up, employers may have a harder time not increasing wage settlements. Movement in the RPI will be the most important factor.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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