However, this figure is based on a relatively small sample with next month’s figure, covering the key settlement month for manufacturers of January, giving a clearer indication of future pay trends in the manufacturing sector.
EEF’s pay data for the 3 months to the end of December 2009 shows that the average pay settlement has risen very slightly to 0.5% from the revised figure of 0.4% for the previous 3 month period.
The number of manufacturers freezing pay fell slightly to just over 2 out of 3 reported settlements during this 3 month period. In contrast, the number of companies deferring their pay settlement rose slightly to just over 30% of all reported settlements.
|
Settlement level - percent |
Number of settlements |
|
Pay reduction |
1 |
|
Zero (pay freeze) |
53 |
|
0.01-2.00 |
15 ( at 2 at 1% exactly and 3 at 2% exactly) |
|
2.01-3.00 |
8 ( 3 at 3% exactly) |
|
3.01-4.00 |
1 (1 at 4% exactly) |
|
4.01 or more |
|
The January 2010 Pay Bulletin contains information on 78 settlements covering 10,249 employees. Of these, the average settlement was 0.3% in October 2009, 0.4% in November 2009 and 1.5% in December 2009 although all of these figures 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.