–Agents Pay Survey: 56% Expect To Award Same Pay Deal This Year As Last
LONDON (MNI) – Employment intentions suggest that there will be
modest private sector jobs growth over the next six months and that
there is evidence of modest pay growth, according to the latest Bank of
England Agents Report.
An agents’ survey on pay and labour costs found signs of an upward
drift in pay deals. While 56% of respondents expected to award the same
pay deal this year as last there was a skew towards higher pay deals.
These findings reflect those from private sector pay surveys, where
median pay deals have been steady so far but with an upside skew in the
surveys’ distributions.
“Overall … the survey tends to suggest a fairly modest increase
in the pace of growth of settlements in 2011 compared to 2010,” the
agents reported.
The report also found some evidence of a pick up in the private
sector. It said investment intentions had risen again on the month, the
growth rate for exports had increased and there was modest growth in
services turnover.
“Retail sales continued to grow, albeit moderately, with some
recovery of spending that had been lost as a result of the bad weather,”
it said.
Manufacturing output also rose although construction activity was
disrupted by the weather.
–London newsroom: 4420 7862 7492; e-mail: ukeditorial@marketnews.com
[TOPICS: M$B$$$,M$$BE$,MABPR$,MT$$$$]
