- The economy has returned to positive growth, ending the double-dip recession.
- Prospects for private sector pay awards in 2013 appear steady.
- Both inflation and unemployment are falling.
But these positive developments are set against a backdrop of worsening global economic uncertainty. Business Secretary Vince Cable says:
We are in a very deep crisis, quite unlike any we have experienced before. [...] Projecting and predicting how we get out of this crisis is very difficult indeed.
XpertHR’s November 2012 economic commentary rounds up the latest data on key economic measures of relevance to HR professionals and reward practitioners, including: economic growth; inflation; pay awards; average earnings; and unemployment.