UK pay settlements slow in December, start 2020 cautiously: XpertHR

UK pay settlements slow in December, start 2020 cautiously: XpertHR

Reuters  | Jan 22, 2020 19:13

UK pay settlements slow in December, start 2020 cautiously: XpertHR

LONDON (Reuters) - British employers offered their staff a median annual pay settlement of 2.2% in the three months to December, down from 2.6% in the three months to November, industry data showed on Thursday.

Human resources consultancy XpertHR said the slowdown, based on 23 pay deals between October and December, meant that awards in 2019 rose by an average of 2.5%, the same as 2018, and there were similar signs at the start of this year.

"The first pay deals of 2020 suggest that employers are taking a cautious approach, leading us to believe that there will be no jump in pay award levels in 2020," XpertHR analyst Sheila Attwood said.

An early sample of 48 pay awards made in January showed an increase of 2.3%, XpertHR said.

Official weekly earnings data - which additionally include the impact on pay of job changes and promotions - showed annual pay grew by 3.2% in the three months to November, the joint slowest increase in over a year.

The Bank of England is watching pay growth and the broader labor market as it weighs up whether to announce a cut to interest rates on Jan. 30.

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes