Pay awards hold fast at 3%

Article Abstract:

UK pay settlements continued to average 3% in Nov 1996, a 5% dip from the previous year and the eighth straight month at that figure. Although private sector awards stayed at 3%, manufacturing industry awards have declined while private sector settlements rose to 3.3% from 3%. The planned phase-out of tax relief for profit-related pay schemes could create additional pressure to increase wages or introduce other compensation-related plans.

Analysis, Wage surveys

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Pay awards hold at 3%

Article Abstract:

Annual UK pay increases, based on statistics covering 2.8 million employees, averaged 3% through August 1995, the same figure averaged during the earlier part of the year. UK pay settlements have held at 3% for nine consecutive rolling quarters, a possible indication of continuing stable wage settlements in the last quarter of the year. Labor market inflationary pressure remains low amid the slow growth in wages.

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Pay awards steady at 3%

Article Abstract:

UK pay increases averaged 3% for the quarter ending June 1996, continuing a downward trend after peaking at 3.5% in Nov 1995. Low inflation generally will result in lower increases for the rest of 1996, but the economic outlook for 1997 is unclear. Some analysts believe inflation will average 3.3% in 1997 and that wages should rise slightly as a result.

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