Recent developments in pay settlements

Chris Hackworth ()
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Chris Hackworth: Bank of England, Postal: Threadneedle Street, London, EC2R 8AH

Bank of England Quarterly Bulletin, 2009, vol. 49, issue 4, 293-296

Abstract: Pay settlements negotiated between employers and their employees have fallen sharply during 2009. Pay settlements have averaged below 2%, with many companies freezing pay. The recession, and the associated drop in employers’ demand for labour, has been a key influence on settlements. Inflation measures frequently cited in pay negotiations have also moderated, further reducing upward pressures on pay. This short article examines the recent movements in settlements.

Date: 2009
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