Our latest analysis of pay review outcomes shows the whole-economy median remains steady at 2% but the median for awards in private services has increased to 2.6%. This is based on 90 pay awards monitored by IDR in the three months to the end of September.
As employers start to publish their gender pay gaps, IDR’s Louisa Withers explains why the reports could play an important role in furthering equality. So far, over 200 organisations have published their gender pay gaps on the Government’s official website, in advance of the deadline of 4 April 2018. Continue reading Gender pay reporting: the new rules
Our latest pay settlement analysis shows the private sector median is unchanged at 2.5% in the three months to the end of August. Meanwhile the whole economy median has fallen from 2.4% in July to 2% in August, owing to the inclusion of some lower-level awards in the not-for-profit and public sectors. Continue reading Settlements in brief: private sector median unchanged at 2.5%
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.
For the full article see http://www.incomesdataresearch.co.uk/subscribers-2/idr-pay-settlement-levels/
The latest IDR analysis of pay settlements shows that Continue reading Private sector pay settlements remain at 2.4%
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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.
Inflation could rise to just below 4% on the all-items RPI measure by the autumn, according to our panel of City economists. Thereafter it could fall, but slowly. This assessment is based on our rounded average of the predictions from eight forecasters. The panel divides evenly between those who see RPI reaching 4% and those who think it is unlikely to rise this far. The main point of difference is based on whether the upward pressure on import prices from sterling’s previous depreciation, following the vote to leave the EU, have mainly worked through, or whether most of these effects remain to be felt. Continue reading Forecasters think inflation could rise to just below 4% by autumn
Legislation requiring firms with at least 250 employees to publish their gender pay statistics came into force on 6 April 2017. IDR conducted a survey of subscribers asking what progress organisations have already made in calculating and publishing the relevant statistics. The results show that just under half have calculated the figures while around a third plan to publish their statistics before the formal due date in April 2018. Continue reading IDR survey: progress on gender pay reporting
In this case study we look at the pay agreement covering the civil engineering works currently being undertaken to construct the nuclear power station at Hinkley Point in Somerset, work on which began properly in March. The pay structure’s guiding principle is progression via the acquisition of skills, and as such, may be a model for pay systems in other parts of the economy. Continue reading Nuclear construction pay agreement