Pay awards continue upward trend

Pay
awards remain steady at 3 per cent for June, according to the latest monthly
settlement analysis by Industrial Relations Services.

It
shows that the prolonged period of pay stability shows no sign of abating.

At
3 per cent, pay awards are marginally down on May. There is little evidence to
suggest that this will change during the remainder of 2001, claims the report.

Headline
inflation, the key pay setting benchmark rose to 2.1 per cent in May 2001 but
fell back to 1.9 per cent in June and still lies 1.1 per cent below the current
IRS settlement measure.

The
busiest period of the pay bargaining for the year is over, as over half of
recorded deals are effective in January and April.

IRS
claims that the majority of deals are higher than last year. According to a
matched sample of 204 deals on the IRS databank, 61 per cent of awards made in
the three months to the end of June are worth more than the equivalent
settlement reached in the same period last year.

By Katie Hawkins. Click here to respond

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