As autumn 2009 gets underway, the economic situation is looking decidedly mixed. The UK could already have exited the 2008/2009 recession, but economic recovery remains precarious with a relapse back into recession possible, according to the October 2009 economic commentary from CELRE - XpertHR's salary surveys unit.
For yet another month, pay awards are plumbing the depths of record lows (subscription required) and unemployment is on the rise. At the same time, evidence continues to suggest the UK economy is slowly getting back on its feet.
But a rising chorus of economic commentators is warning of the risk that any economic recovery could be very short-lived, and that a relapse back into recession is a distinct possibility.
These are the circumstances in which many pay practitioners will now be deciding the levels of their organisation's pay settlements for January 2010 and beyond.
The uncertain economic outlook makes it all the more critical that pay practitioners ensure their decisions are informed by the most up-to-date and reliable benchmarking data, for the good of their own organisation and for the wider economy.
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Comments (1)
I recently read an article published by CEO Q magazine on economic recovery, the new world order, and the impact of current economic policies. I thought i would share it with you as it has some very interesting facts and insights on the crisis and expected recovery.
Check it out: http://www.ceoqmagazine.com
Posted by CH | October 22, 2009 6:05 PM
Posted on October 22, 2009 18:05