Pay
negotiators in engineering and manufacturing companies are continuing to heed
the chancellor of the exchequer’s recent call for responsible pay settlements,
according to the latest information from EEF, the manufacturers’ organisation.
These
show that the average level of pay settlement for the three months to the end
of March 2004 was 2.5 per cent, the same level as the revised figure for the
three months to the end of both January and February 2004.
During
the three months to the end of March 2004, the number of pay freezes reported
by engineering and manufacturing companies fell slightly to just over 9 per
cent, the lowest figure since March 2001.
Commenting
on these latest figures, David Yeandle, EEF deputy director of employment
policy, said: “The average level of pay settlements being reported by
manufacturing companies shows they are continuing to be responsible, despite
pressures that are being exerted by the tightening labour market.”
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