Source: IRS Employment Review Date: 26-10-2012 Publisher: IRS

Private-sector pay prospects 2012/13: median set to hold steady at 2.5%

TOPICS:
recruitment labour market and economy
pay and benefits pay levels and awards

SECTORS:
chemicals
construction
electricity, gas and water
engineering and metals
finance
food, drink and tobacco
manufacturing (other)
paper and printing
retail and wholesale
services (other)
transport and communication

AUTHOR: Janet Egan


Against a background of largely gloomy economic signals, private-sector pay rises in the year ahead are expected to remain at 2.5%.

On this page:
Economic background
Pay prospects for 2012/13
      Comparison of forecast increases with 2011/12 awards
Chart 1: Pay settlement expectations for 2012/13, compared with 2011/12
Median pay forecast levels out at 2.5%
Pay forecasts by sector
Variations between sub-sectors
Chart 2: Expected pay awards in the 2012/13 pay round
Influences on pay awards
      Business and economic factors
      Comparability factors
      Labour-market factors
Key upward pressures
Key downward pressures
Balance of pay pressures
Chart 3: Key negotiating pressures for 2012/13
Influence of inflation
Reward strategies and priorities
Our research
Table 1: Pay rise forecasts by sub-sector, 2012/13
Table 2: Predicted influences on the 2012/13 pay round by broad industrial sector
Table 3: Predicted key upward and downward pressures on the 2012/13 pay round
Table 4: Reward strategies used
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