Mixed messages on wage settlements

Wage and salary settlements in
the service sectors increased significantly at the end of the year, according
to the latest CBI figures.

In the three months to
December, service sector settlements averaged 4.2 per cent, the highest since
1998 and up 3.8 per cent on the previous quarter.

Manufacturing pay awards also
rose to 3 per cent in the three months to December from 2.7 per cent in the
previous quarter.

However, recent figures from
the Engineering Employers’ Federation suggests a different story. The EEF
reported a surprise drop in engineering industry settlements in the three
months to January to 2.7 per cent, down from 2.9 per cent in the previous
quarter.

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By Karen Higginbottom