Pay awards hit 3% mark
Article Abstract:
The headline measure of pay awards for the whole economy, according to the Industrial Relations Services' (IRS) analysis of 68 pay reviews, is 3%. This is based on the reviews of 240,000 workers who had settlement dates in the three months until Dec 1994. The lower quartile of pay awards was 2.5% or less and the upper quartile was 3% or more. Eight out of 10 reviews provided higher increases than those provided a year ago. Only two of the 68 reviews were in the public sector. The addition of 19 reviews to the IRS pay databank has led to the revision of the Nov 1994 headline figure also to 3%.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1995
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Pay awards hold at 3% against inflationary forces
Article Abstract:
A survey of IRS pay databank figures from Mar 1, 1995, to May 31, 1995, shows that the headline measure for pay awards was 3% for the whole economy, for the sixth month in a row. The upper quartile was 3.5% or more and the lower quartile was 2.5% or less. The figures, which are based on 176 pay reviews applicable to 1.5 mil employees, indicate that half of the pay rewards were higher than those awarded a year ago.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
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