UK DATA: Most Pay Deals Being Awarded At 2% Or Above- IDS>}
–Dec-Feb Median Pay Deals 2.5% Unchanged Vs Nov-Jan – IDS
–IDS Says High Fuelling Further Increases In Pay In April
–Most April Pay Deals Seen So Far At 3% Or Above
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Seven out of eight UK pay deals came in at 2% or above during the
December to February quarter and high inflation is fuelling a new
acceleration in pay deals in April, according to figures from Income
Data Services released Thursday. IDS said that two-fifths of deals were
at 3% or above in the Dec-Feb period. The median settlement for the
whole economy is 2.5% for the three months to the end of February.
Preliminary findings on April deals show that pay settlements may
be picking up steam as high inflation continues to have an impact on
real wages. Most of the April deals recorded so far by IDS have set pay
increases at 3% or higher.