Manufacturing pay settlements nudge up

According to the latest figures from the manufacturers' organisation EEF, the average level of pay settlements increased by 1% for the 3 months to the end of March compared to 0.9% the same period for February. This represents the highest level since April 2009 but is still at a historically relative low. In the same period the number of manufacturers freezing pay fell to just under a half of all reported settlements and those deferring pay settlement also dropped very slightly to just under 20% of all reported settlements. EEF head of employment policy David Yeandle (pictured) said: "This fall in the number of companies freezing or deferring their pay settlement has contributed to the very slight increase in the average level of pay settlements in manufacturing. However, it still remains at a historically low level demonstrating that conditions remain tight for many companies and the fragile nature of the economic recovery"