home  |  about Randstad  |  news and events  |  UK manufacturing wage settlements 'returning to historic levels'

about Randstad

UK manufacturing wage settlements 'returning to historic levels'

24 May 2011
The level of pay in the UK manufacturing industry crept up during the three months to April 2011, as settlements start to return to average historical levels.

According to a new report by EEF, the manufacturers' organisation, pressures continue to constrain wage growth, as uncertainties about the labor market and the economy overall place downward pressure on agreements.

However, the organization's chief economist Lee Hopley explained: "We are only returning to the level of settlements we would expect to see by historical standards."

Those seeking engineering jobs in the UK may be interested in EEF and JAM Recruitment figures showing pay rose by 2.5 per cent over the three months to the end of April 2011 year-on-year, compared with a climb of 2.4 per cent for the March quarter.

A total of 80 per cent of settlements stood below three per cent and 14 per cent of businesses surveyed continued to impose pay freezes, which may lead individuals to seek new employment to increase their wages.

Recent Office for National Statistics data for the UK suggested there had been an increase in jobs during April 2011, pushed up by a rise in full-time roles.

Posted by Alex DonnellADNFCR-1275-ID-800554771-ADNFCR