Manufacturing pay settlements stable at 2.7%

Manufacturing pay settlements have remained stable at 2.7%, according to the latest figures from manufacturing and engineering organisation EEF.


For the three months to the end of February 2005, the average level of pay settlements reported by manufacturing companies was 2.7%, the same as the figure for the previous three-month period to the end of January.


The latest figures include more than 350 settlements for January alone, the key settlement month in the year for manufacturers, which also averaged 2.7%.


During this period, the number of manufacturers reporting that they had frozen pay fell slightly to 6% from last month’s revised figure of 7%. However, the number of manufacturing companies reporting that they had deferred their pay settlements remained constant at around 4.5%.


EEF deputy director of employment policy, David Yeandle, said: “The continuing low level of settlements during a key period of the year for pay negotiations in manufacturing demonstrates that there are no wage inflationary pressures coming from this sector.”


 

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