Pay settlements remain at historically low levels

Engineering and manufacturing pay settlements remained at historically low levels during the three months to June, averaging just 2.6% according to the Engineering Employers Federation’s latest survey. Although this represents a 0.1% increase, it still lags well behind the headline inflation rate which stood at 3.3% in June. The survey covered 453 settlements affecting over […]

Engineering and manufacturing pay settlements remained at historically low levels during the three months to June, averaging just 2.6% according to the Engineering Employers Federation’s latest survey. Although this represents a 0.1% increase, it still lags well behind the headline inflation rate which stood at 3.3% in June. The survey covered 453 settlements affecting over 57,000 employees. Around one in eight of the survey sample reported a pay freeze for the workers concerned.