Private sector sees higher pay rewards
Wednesday 01 June 2011
The pace of pay increases in the private sector continued to rise at the beginning of this year, although it remains below the level of inflation in the wider economy, while public sector pay remained broadly frozen, according to a new survey.
The median private sector pay award between February and April was 3 per cent, against the 5.2 per cent annual rate of inflation based on the retail prices index, the measure typically used to benchmark pay reviews. The public sector lagged behind, with the median pay reward standing at zero, according to the analysis of pay settlements from Income Data Services (IDS).
As a result, the median for the economy as a whole stood at 2.5 per cent. "The whole economy median obscures a wider reality and clear differences between the public and private sectors," the editor of the IDS pay report, Ken Mulkearn, said. "The latest figures show that private sector pay awards are where we thought they would be this time of year, reflecting a degree of recovery in profitability and higher levels of inflation.
"However, the picture for 2011 is not yet complete and the outlook is difficult to asses."
World's most lethal spider found under a bunch of bananas
Rumours that the star wants to move on to pastures new
Comedian says he 'never laughed as hard as I have writing with Rik'
- 1 Jack the Ripper: Scientists who claims to have identified notorious killer has 'made serious DNA error'
- 2 Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
- 3 Star Wars memorabilia called a 'bit of plastic' by Antiques Roadshow's Fiona Bruce valued at £50,000
- 4 Meet Thea, Norway's 12-year-old child bride
- 5 Russell Brand might seem like a sexy revolutionary worth getting behind, but he will only fail his fans
Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
Oscar Pistorius sentencing: Olympic star must serve 10 years, prosecutor urges
Isis fighters 'crucify' 17-year-old boy in Syria
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Oscar Pistorius sentence: Athlete's wealth and notoriety provoke an overdue debate on South African prisons
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Sorry Judy Finnigan – Ched Evans is no less sickening than an alleyway rapist
Residents should throw a street party and mix with immigrant neighbours, councils told
Workers 'could be forced to pay £5 a week' to get benefits
Russell Brand threatened with arrest after filming outside Fox News headquarters
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
iJobs Money & Business
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...
£50000 - £55000 per annum + bonus + benefits: Ashdown Group: IT Relationship M...
Highly Attractive Salary : Austen Lloyd: NOTTINGHAM - BRILLIANT FIRM - You wil...