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11/10/2016
Pay settlements in the three months to the end of April 2016 slowed to 1.7% at the median, according to XpertHR analysts. This is the first time in two years that its headline measure of settlements has shifted from 2% and is now at the lowest level recorded since October 2012. Almost half of pay awards are lower this year than last for a matched sample of employee groups.
Sheila Attwood, pay and benefits editor at XpertHR, said:
‘There is a definite dip in the level of pay awards across the economy, although low public sector pay awards are partly to blame. In the private sector, the impact of the national living wage is still in its early stages, and employers remain cautious about the level of pay increases being given to employees.’