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Private sector pay up 2%

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Average pay settlements in the private sector were up two per cent in the three months to the end of October, according to the latest data by Income Data Services’ IDSPay.co.uk site.

Overall median pay settlement for the whole UK economy remained unchanged, also at two per cent.

The proportion of organisations freezing pay was at the lowest figure since the end of 2008, dropping to nine per cent of all awards made during the period.

Half of all settlements awarded during the quarter were at between 1.9 and 2.5 per cent, while 55 per cent of pay settlements were between two and 2.99 per cent.

IDSPay.co.uk’s analysis is based on 69 pay settlements, covering 1,873,538 employees in total.

Ken Mulkearn, Editor of IDS Pay Report, whose staff collect and analyse the pay settlement data for IDSPay.co.uk, said: “As we prepare to turn the corner into 2011, there are a number of competing pressures - both upward and downward - on pay.

“Affordability and cost pressures loom large, but inflation is likely to increase in importance as employees’ energy bills rise, rail fares rise and the increase in VAT comes into effect in January.”

IDS is a research organisation focusing its work on employment-related areas.

The IDS Pay Report, which launched in 1966, was the group’s first publication and was devised to provide accurate and timely information that can be used by those involved in determining pay, benefits and related employment policies in Britain.

Published on Thursday 02 December by Editorial Assistant

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