UK DATA: IDS: Sep-Nov UK Median Pay Deals at 2.2% Vs 2.0% Prior
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Median pay deals in the UK rose slightly from 2.0% to 2.2% in the
three months through Nov, according to the latest survey by pay
experts Incomes Data Services. Nov marks the first rise in median pay
settlements after sixth consecutive months of pay deals holding at 2.0%.
The proportion of organisations freezing pay dropped to 6%, its lowest
reading since 2008 and down from the both the 9% seen during the three
months to October and the 19% in the three months through September.
Members of the Bank of England’s Monetary Policy Committee have
highlighted the subdued nature of pay growth so far in the UK, while
noting the risk of a pass through into pay from higher headline
inflation. These data suggest pay is rising, and IDS warns median pay
could rise further, to around 3.0%, in 2011.