Settlements stick at 2.0%


There was no change in the overall median rise for collectively agreed settlements in February and it was much the same story for the sector figures.


In the three months to February 2016, the median increase for settlements from LRD’s Payline database was 2.0%, the same rise as for January.


All the sectoral figures derived from Payline, apart from non-manual workers, were unchanged on their January rise.


Over the past two months, LRD’s overall median rise has matched that for the whole economy recorded by pay analyst XpertHR which continues at 2.0%.


The latest official statistics on Average Weekly Earnings show that for the three months to January total pay, including bonuses, rose by 2.1% against the 1.9% rise for the three-months ending December.


Manufacturing sector earnings growth was up to 1.6% from 1.4%, while in services growth edged higher to 1.9% from 1.8%. For the private sector as a whole the increase up to 2.3% from 2.1% in December.


In the public sector, including financial services, earnings growth was steady at 1.3%, while if financial services were excluded, growth was up to 1.4% from 1.3%.


The three-monthly rises in regular pay, excluding bonuses, for January with previous month’s rise over three months in brackets, were: whole economy 2.2% (2.0%); private sector 2.4% (2.2%); public sector, including financial services 1.5% (1.4%); services 1.9% (1.7%); and manufacturing 2.2% (1.8%).

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

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours#datasets