Pay and prices

Labour Research Department three monthly pay figures

Percentage increases on lowest basic rates (by agreements covered)

For the three months up to and including: this payround

AUG 00- APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR MAR 01

All agreements 3.0 3.0 3.0 3.0 3.3 3.3 3.3 3.3 3.5 3.2 3.2 3.1 3.3

Private sector 2.8 2.8 3.0 3.0 3.3 3.0 3.3 3.5 3.5 3.2 3.2 3.2 3.2

Public sector 3.0 3.0 3.0 3.0 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.0 3.3

Manual 3.0 3.0 3.0 3.0 3.3 3.1 3.4 3.5 3.5 3.2 3.1 3.1 3.2

Non-manual 2.8 2.8 2.8 3.0 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3

All industries 2.8 2.8 2.8 3.0 3.3 3.0 3.2 3.3 3.3 3.2 3.1 3.1 3.2

All services 3.0 3.0 3.0 3.0 3.3 3.3 3.3 3.3 3.8 3.3 3.3 3.2 3.3

For the 12 months up to and including:

APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR

by agreements 3.0 2.8 2.9 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0

by workers covered 3.3 3.0 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3

Note to table: The figures show median (midpoint) pay settlements among all the agreements monitored through the LRD pay and conditions database. Separate figures showing the weighted median, (by number of workers covered) appear in the 12-monthly table.

Prices 2000-2001

retail % in- price index crease Jan 87=100 on year ago 2000

January 166.6 2.0

February 167.5 2.3

March 168.4 2.6

April 170.1 3.0

May 170.7 3.1

June 171.1 3.3

July 170.5 3.3

August 170.5 3.0

September 171.7 3.3

October 171.6 3.1

November 172.1 3.2

December 172.2 2.9

2001

January 171.1 2.7

February 172.0 2.7

Earnings 2000-2001

average % increase earnings on index year ago 1995=100 2000

January 123.3 6.3

February 123.0 5.4

March 123.2 5.1

April 122.9 4.5

May 123.1 4.0

June 123.5 3.8

July 123.9 3.9

August 124.8 4.2

September 125.2 4.2

October 125.8 4.1

November 126.4 4.4

December 128.1 4.8

2000

January 128.6 4.3

February 130.2 5.9

Other pay analysts

Confederation of British Industry (manufacturing) 3.0%

(average, three months to December 2000)

Industrial Relations Services (whole economy) 3.3%

(median, three months to end January 2001)

Incomes Data Services (most settlements) 3.0%-3.9%

(first quarter 2001)

Average earnings increases by sector

% change on year to February

Manufacturing 5.0% Services 6.4%

Latest figures for full-time weekly earnings

all workers £411.30 all female £338.30

all male £454.00 all manual £324.30

all non-manual £453.00 female manual £228.40

female non-manual £358.20 male manual £344.70

male non-manual £534.40 Source: New Earnings Survey 2000, projected to October (Labour Market Trends, March 2001)

Prices - underlying increase and forecasts

underlying rate for February 1.9%

Forecasts 4th quarter 2001 4th quarter 2002

RPI/underlying rate RPI/underlying rate

Average 1.9 2.0 2.5 2.3

Oxford Economic Forecasting 1.6 1.9 2.3 2.2

NIESR 1.9 1.8 2.4 2.1

Source: HM Treasury Forecasts for the UK economy, March 2001