settlements at engineering and manufacturing companies remain stable at a
historically low level of 2.2 per cent, according to the latest figures from
the Engineering Employers’ Federation.
the three months to March 2002, the average settlement level was 2.2 per cent –
the same figure reported for the three months to February 2002.
the same period, nearly 25 per cent of companies reported pay freezes and just
over seven per cent said they had
deferred their pay settlements.
Yeandle, EEF deputy director of employment policy, said: "This continuing
historically low level of pay settlements clearly demonstrates that there
continues to be no wage inflationary pressures coming from the engineering and