Increases not yet definite

There is some evidence of an upturn in settlements in our three-monthly pay medians this month (see table). That’s something we might expect given labour shortages and the surge in inflation (see page 3). However, the figures bear closer inspection.

Our figure of 3.6% in the three months to October (up from 2.3%) has been influenced by multiple settlements within one particular company. Nevertheless, it is more representative of deals within the single month of October.

October’s three-month median for standard increases (less affected by higher rises for the lowest paid grades) is 3%. More details are available to members of unions subscribing to LRD Payline.

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