Settlements stick at 2.5%


There was no movement in the overall median for collectively agreed settlements in December and little joy in official earnings figures.


In the three months to December, the median increase for settlements from LRDs’ Payline database was 2.5% - the same rise as for November. The private sector matched the overall median rise.


Settlements for manual workers were running at 2.5%, while for non-manuals the rise was 2.3%.


The median rise for the whole economy recorded by pay analyst XpertHR continued at 2.0% for three months to December. The median has been at 2.0% throughout 2015. 


The latest Office for National Statistics data on Average Weekly Earnings show that for the three months to to November total pay, including bonuses, rose by 2.0% on the same period a year ago against the 2.4% annual rise for the three-month-period ending October.


Manufacturing sector earnings growth was down to 1.3% from 1.5%, while the three-month average in services was down to 1.9% from 2.4%.


For the private sector as a whole the increase down to 2.2% from 2.7% in October.


In the public sector, including financial services, earnings growth was up to 1.5% from 1.3%.


The three-monthly rises in regular pay, excluding bonuses, for November with previous month’s rise over three months in brackets, were: whole economy 1.9% (2.0%); private sector 2.1% (2.3%); public sector, including financial services 1.5% (1.3%); services 1.7% (1.8%); and manufacturing 1.5% (1.5%).


www.lrd.org.uk/index.php?pagid=18

www.ons.gov.uk/ons/rel/lms/labour-market-statistics/january-2016/dataset--earnings.html