Manufacturing pay settlements
The main pay bargaining round for manufacturing has passed with economic realism prevailing and “little or no pay pressures evident”, according to the latest data from the EEF manufacturers’ organisation and JAM Recruitment.
Their survey of 305 companies for the three months to the end of March shows the average pay settlement for the period was 2.6%, a very small increase on the previous three-month figure of 2.5% but still below the long term settlement average.
A breakdown of settlements shows that around a quarter (23.6%) — or 72 settlements — were for 3.01% or more.
There were 140 settlements, accounting for almost half of those surveyed (45.9%), where the rise was between 2.01% and 3.0%. So all told seven out of 10 settlements were worth 2.01% or more.
On the downside, the EEF reports one settlement where there was a pay reduction, but no figure was given.