Manufacturing pay rises at record low
Manufacturing pay settlements have continued to fall to a historically low level in response to the economic squeeze, according to the latest figures.
Pay data for the three months to the end of March shows that the average level of pay settlements has fallen to 1.6%, down from 1.7% for the previous three months to the end of February. This is the lowest figure reported since records began in 1987.
The number of companies freezing pay continued to rise to nearly 45% of all reported settlements in the same three month period, again the highest level since the survey began.
