EEF’s pay data for the 3 months to the end of September shows that the average level of pay settlements remained at 0.3%, the same as the figure for the previous 3 months to the end of August. This is the lowest level of pay settlements reported by manufacturers since EEF’s survey began in 1987.
In the same period, the number of manufacturers reporting that they had frozen pay again rose slightly to nearly four out of five settlements, the highest figure reported since EEF’s survey began. The number of manufacturers reporting that they had deferred their pay settlement also rose slightly to just over 12% in this period.
Commenting on these latest figures, David Yeandle, EEF Head of Employment Policy, said:-
"The continuing high proportion of companies that are now freezing pay means that manufacturing settlements are still at the historically low level of 0.3%. This pattern shows little sign of changing in the coming months."
Settlement level - per cent
Number of settlements
Pay reduction
4
Zero (pay freeze_
185
0.01-2.00
36 (11 at 1% exactly and 15 at 2% exactly)
2.01-3.00
8 (1 at 3% exactly)
3.01-4.00
4 (2 at 4% exactly)
4.01 or more
0
The September 2009 Pay Bulletin contains information on 237 settlements covering 37,337 employees. Of these, the average settlement was 0.3% in June, July and August 2009 although the figures for both June and August 2009 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