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.
To read the rest of this article, you must have access to our subscriber zone. To subscribe, email email@example.com, call +44 (0) 1702 669549 or fill in our enquiry form here. If you are already a subscriber, please login below.