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ARTICLE · 14 SEPTEMBER 2010

Pay Awards Remain Static at 1%

Ashby Cohen Solicitors Ltd
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According to the latest findings published by the Inland Revenue Service, the headline measure of pay awards for employees across the UK economy in the three months leading up to the end of July 2010 remains at 1%. The median pay award has been at this low but stable level in every quarter from January 2010.

United KingdomEmployment and HR
Alain Cohen
Alain Cohen

According to the latest findings published by the Inland Revenue Service, the headline measure of pay awards for employees across the UK economy in the three months leading up to the end of July 2010 remains at 1%. The median pay award has been at this low but stable level in every quarter from January 2010.

By contrast, the retail price index fell slightly from 5% to 4.8%, which means that pay awards are falling in relation to inflation by a whole 3.8 percentage points. However, there are some indications that pay settlements may be making something of a recovery.

While the median award has remained the same, the spread of awards has widened slightly, as the upper quartile has risen to 2.3% from the 2% at which it has stood for each successive quarter from April 2009.

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