News
Pay Bargaining Stats – August 2010
Inflation
Headline inflation
Retail prices index (RPI): 4.7% (August 2010)
Next release date: 12 October 2010.
Underlying inflation
Retail prices index excluding mortgage interest payments (RPIX): 4.7% (August 2010)
Next release date: 12 October 2010
Consumer prices
Consumer prices index (CPI): 3.1% (August 2010)
Next release date: 12 October 2010.
Inflation forecasts
Q3 2010: average 4.7%; Q4 2010: average 4.1%
Next release date: 22 October 2010.
Pay Settlements
Summary
Xpert HR (formally IRS) headline pay measure
Headline measure of pay settlements for the three months ending 31 August 2010: 1%
Next release date: 22 October 2010
Engineering and manufacturing (EEF)
Average settlements for three months ending 31 August 2010: 1.9%
Next release date: 22 October 2010.
Manufacturing and services (LRD)
Median settlement levels for three months ending 31 August 2010: 2.1% (manufacturing); 2.3% (services)
Next release date: 22 October 2010
More Detail
Xpert HR (formally IRS)
The Xpert HR measure of pay awards - the midpoint in the range of basic pay deals - stands at 1% in the three months to 31 August 2010 unchanged from the previous rolling quarter, according to the latest provisional analysis The inter quartile range stands between nil and 2.5%
Engineering and manufacturing (EEF)
Pay awards in engineering and manufacturing companies averaged 1.9% for the three months to 31 August 2010, according to EEF, the manufacturers' organisation. This was down 0.1% on the revised figure of 2.0% for the previous rolling quarter.
Source: EEF (external website), the manufacturers' organisation, September 2010.
Manufacturing and services (LRD)
Latest figures from the Labour Research Department (LRD) reveal that the median pay settlement level recorded on the LRD PayLine database is 2.2% for the three months to 31 August 2010, up 0.2% on the previous figure. Broken down by industry sector, the median settlement level for the service sector is 2.3%, while the manufacturing median is 2.1%.
Source: LRD PayLine database (external website), September 2010
