EEF's latest figures for the three months to the end of March 2008 show that the average level of pay settlements was 3.2%, the same figure as the previous four months and within the very narrow band they have been for the last eighteen months.
During this latest period, the number of pay freezes reported rose slightly to just under 6% of all settlements, the highest figure since May 2007. However, the number of companies reporting that they had deferred their pay settlement fell slightly to just under 4% of all settlements.
Commenting on these latest figures, EEF Deputy Director of Employment Policy, David Yeandle, said:-
"Given we are passing through one of the busiest periods for wage negotiations in manufacturing it is clear that, despite the increase in the cost of living, this is not being translated into higher wage demands."
|
Settlement level - per cent |
Number of settlements |
|
Zero (pay freeze) |
23 |
|
0.01-2.00 |
13 ( 8 at 2 per cent exactly) |
|
2.01-3.00 |
173 (121 at 3 per cent exactly) |
|
3.01-4.00 |
129 (29 at 4 per cent exactly) |
|
4.01 or more |
51 |
|
|
|
|
The April Pay Bulletin contains information on 389 settlements covering 58,064 employees. Of these, the average settlement was 3.2% in January, February and March 2008 although the figures for both February and March are based on very small samples. These figures may be subject to revision to take into account settlements for this period that have not yet been received.
ENDS