News
Pay Bargaining Stats January 2010
Pay Bargaining Stats January 2010
Inflation
Headline inflation
Retail prices index (RPI): 2.4% (December 2009)
Next release date: 16 February 2010
Underlying inflation
Retail prices index excluding mortgage interest payments (RPIX): 3.8% (December 2009)
Next release date: 16 February 2010
Consumer prices
Consumer prices index (CPI): 2.9% (December 2009)
Next release date: 16 February 2010
Inflation forecasts
Q1 2010: average 2.8%; Q2 2010: average 3.1%
Next release date: 19 February 2010
Pay Settlements
IRS headline pay measure
IRS headline measure of pay settlements for the three months ending 31 December 2009: 1.2%
Next release date: 19 February 2010
Engineering and manufacturing (EEF)
Average settlements for three months ending 31 December 2009: 0.5%
Next release date: 19 February 2010
Manufacturing and services (LRD)
Median settlement levels for three months ending 31 December 2009: 1.5% (manufacturing); 2.0% (services)
Next release date: 19 February 2010
More Detail
(IRS) Industrial Relations Service
The IRS measure of pay awards - the midpoint in the range of basic pay deals - stands at 1.2% in the three months to 31 December 2009, down slightly on the revised figure of 1.3% for the previous rolling quarter, according to the latest provisional analysis.
The inter quartile range stands between nil and 2%
Pay awards in engineering and manufacturing companies averaged 0.5% for the three months to December 2009, according to EEF, the manufacturers' organisation. This was up on the figure for the previous rolling quarter.
Source: EEF (external website), the manufacturers' organisation, January 2010
(LRD) Labour Research Department
Latest manufacturing and service figures from the Labour Research Department (LRD) reveal that the median pay settlement level recorded on the LRD PayLine database is 2% for the three months to December 2009. Broken down by industry sector, the median settlement level for the service sector is 2.0%, while the manufacturing median is 1.5%.
Source: LRD PayLine Database (external website), January 2010.
