According to the latest monitoring figures from IDR, the median pay settlement across the economy rose to 2.4% in the three months to July. This is the highest we have recorded so far in 2017, up from 2% in the previous three rolling periods. The latest figures are based on 75 pay settlements, mostly at organisations in the private sector.
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Our latest analysis of pay settlements shows the median falling back to 2% in May. However the interquartile range, where half of awards are set, remains at between 1% and 2.8%. This partly reflects a wide range of pay outcomes, with increases monitored in the latest period ranging from a pay freeze to 10.5%. The analysis is based on 130 pay settlements monitored by IDR in the three months to the end of May.
|Pay settlement data - three months to end of May 2017
|Whole economy||Private sector
|Interquartile range||1.0 to 2.8%||1.9 to 2.9%
|Based on 130 settlements covering 3.3M employees in total.
The median had risen to 2.4% in the three months to the end of April, under the influence of more awards worth 3% and above. Many of these were aimed at bringing lowest pay rates in line with the new National Minimum and National Living Wages. Indeed a closer look at private sector awards in the latest period shows that the median here is still at 2.4%.
Our next full quarterly analysis will be in Pay Climate, release date Thursday 7 September.
The latest settlements analysis from IDR shows the median steady at 2% in March, based on 71 settlements monitored in the three-months to the end of March.
Continue reading Settlements in brief: March median at 2%
Average weekly earnings rose by 2.3% in the year to February, the same as in the year to January. Previously the ONS put the January figure at 2.2%, but this has been revised up to 2.3% in the latest figures. Looking back at the rate of growth in earnings over the past ten months we can see the rate has been fairly steady at around 2.4 to 2.5%. All these figures are for total earnings, across the whole economy, which include bonuses. Continue reading Earnings growth remains steady at 2.3% in February
The latest settlements analysis from IDR shows the median remaining at 2% in February, based on 59 settlements monitored in the three-months to the end of February.
Continue reading Settlements in brief: median remains at 2% for February
The introduction of the National Living Wage (NLW) in April 2016 has led to a 5.3% increase in median minimum pay rates for established staff across retail. Many employers have revised their pay structures to accommodate this increase, typically by eliminating starter rates or harmonising premiums for unsocial hours. At £7.20, the median rate for the whole sample equals the NLW, though food and non-food retail firms tend to pay higher on average than employers in catering/hospitality. Many firms are paying the new minimum to all staff, despite it being a legal requirement to only pay it to staff aged 25 or over. Continue reading NLW leads to significant pay increases in retail
The median pay award across the whole economy was 2% in the three months to January 2017, according to the latest monitoring figures from IDR. Continue reading Settlements in brief: January awards at 2%
Our latest analysis of pay settlements shows that the median has remained steady for 12 consecutive months at 2% in the three months to December 2016. The private services median remains at 2% for the second consecutive month, having fallen from 2.6% in the three months to October. Continue reading Settlements in brief: median held steady at 2% for duration of 2016
Our latest analysis of pay settlements shows that the median has remained steady for 11 consecutive months at 2% in the three months to November 2016. The private services median has fallen back to 2% in our latest analysis, down from 2.6% in the three months to October. Continue reading Settlements in brief: median remains at 2% as we head into 2017
Our latest analysis of pay settlements shows that the median held steady at 2% in the three months to October 2016. The median has remained constant at 2% for 10 consecutive rolling periods, since the three months to January 2016. However, this figure is not necessarily representative of awards across all the different sectors of the economy. Continue reading Settlements in brief: private sector median at 2.6%