Workplace Report February 2020

Pay and prices

January rise of 2.8% for deals

There was a boost to pay settlements in the New Year.

In January, the median pay increase in collectively agreed settlements from LRD’S Payline database was 2.8% — up from the 2.6% median for December. With RPI inflation only rising by 2.2%, the settlement increase was in real-terms.

The public sector matched the overall increase, but the private sector only saw an increase of 2.7%.

Official figures for average weekly earnings in December for the regular pay (excluding bonuses) in the whole economy showed a 3.2% increase for the fourth consecutive month.