LONDON (MNI) – While average UK economy wide pay deals fell back to
zero as a result of the pay freeze in the three months through April,
manufacturing pay deals have finally returned to their long run average,
according to a survey by EEF/JAM.
EEF/JAM said in the three months through April the average pay
settlement rose to 2.8%, up from 2.6% in the three months through March.
This survey is one of a slew out in recent days covering the busy April
pay period and it highlights a relatively bright spot in the pay
picture.
EEF said the last time average pay was at 2.8% was back in November
2008, with the low point a 0.4% outturn in late 2009.
“The fact it has taken the best part of four years for pay
settlements to get back to even the long term average shows the extreme
pressure that companies have been under to control their internal
costs,” EEF’s Chief Economist Lee Hopley said.
Surveys by XpertHR and IDS showed the average economy wide pay deal
in the three months through April was zero as a result of the big public
sector pay deals coming into force at the start of the UK fiscal year.
EEF was formerly the Engineering Employers’ Federation, and is a
manufacturing trade organisation.
–London newsroom: 4420 7862 7491; email: drobinson@marketnews.com
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