Drop in settlements confirmed
Article Abstract:
UK pay awards began to fall in May 1996 as settlements averaged 3%, down from 3.1% in April and a high of 3.5% in Nov 1995. Pay increases may be lower due to tax cuts, interest rate cuts, and diminishing inflation fears. Merit pay levels remained stable. Wage settlements in both the services and manufacturing sectors remain generally strong, despite growing economic problems in manufacturing.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1996
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Settlements cluster around 3%
Article Abstract:
UK labor settlements continued to average 3% pay increases through Feb 1997. A survey of 163 settlements indicates a continuing trend towards flat settlement and national wage restraint. Inflation may affect settlements later in 1997, since the booming economy may spur inflation. The tighter job market and inflation pressures could affect pay increases later in 1997.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1997
User Contributions:
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