Pay awards in the manufacturing sector have fallen to a 20-year low while
those in financial and business services continue to rise, according to a new
More than a third of service-sector employers said the need to recruit and
retain the right staff has pushed awards up.
The latest CBI Pay Data Bank survey found manufacturing pay deals averaged 2
per cent in the three months to last December.
This is the lowest figure recorded since the survey began in 1980.
Meanwhile, service-sector pay deals continue to rise at a steady rate,
averaging 4 per cent over the same three-month period.