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Latest News

Collapse in city bonuses stumps pay growth

by Personnel Today 19 Apr 2002
by Personnel Today 19 Apr 2002

Pay
growth has been pushed down by collapsing city bonuses, according to official
figures.

Headline
average earnings rose by an annual 1.9 per cent in the three months to
February, the lowest growth for almost a decade, the Office for National
Statistics said.

Experts
said the drop in bonuses to city workers at banks and financial institutions
has helped keep wage inflation subdued.

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The
ONS said headline pay growth in manufacturing and service industries has
dropped to a record low. But in the public sector there has been strong growth,
with teachers and nurses seeing large increases to their pay.

By Quentin Reade

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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Personnel Today
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