Pay deals top 3 per cent

Pay deals have topped 3 per cent for the first time in almost two years, according to Industrial Relations Services.

Settlements rose 0.2 per cent in the three months to October, taking average awards over 3 per cent for the first time since January 1999. Half of the settlements monitored showed rises of between 3 and 3.5 per cent, adding to concerns about labour market tightness.

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The upturn appears to reflect higher levels of inflation over the past six months.

By Richard Staines