Engineering pay edges upwards

Pay
settlements in the engineering and manufacturing sector have edged up slightly,
according to the latest figures from the Engineering Employers’ Federation
(EEF).

For
the three months to the end of September 2003, the level of reported
settlements rose slightly to 2.5 per cent compared to 2.3 per cent for the
previous  three months.

However,
the latest figures are based on a relatively small number of settlements.

In
contrast, the number of pay freezes has fallen to a six-month low of just under
12 per cent of all reported settlements

Similarly,
the number of companies reporting that they have deferred their pay settlement
has fallen to just over 4 per cent of all settlements and is the lowest figure
since February 2003.

The
October 2003 Pay Bulletin analyses 164 settlements in the three month period to
the end of September affecting 17,714 employees. Of these, the average level of
settlements was 2.5 per cent in July, 2.3 per cent in August and 2.7 per cent
in September.

www.eef.org.uk

By Ross
Wigham