UK service sector pay awards dip

Click to follow
The Independent Online

Pay awards in Britain's services sector have gone down, according to a survey from the Confederation of British Industry (CBI).

Pay awards in Britain's services sector have gone down, according to a survey from the Confederation of British Industry (CBI).

The CBI's pay databank shows that service sector pay deals have gone down to 3.5% from the previous figure of 3.9% over the previous three months. Deals in the manufacturing sector went up slightlly to 3.3% from 2.8%.

The figures contradict over surveys which have shown a steady upward trend in recent months.

Kate Barker, the CBI's chief economist, said: "Together with benign official earnings data this suggests the UK labour market continues to peform well. Despite buoyant employment, pay remains no threat to the inflation target." she said, adding that competitive pressures in the manufacturing sector would also keep pay settlements there in check."

Comments