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- Title
Recent developments in pay settlements.
- Authors
Hackworth, Christopher
- Abstract
Pay settlements negotiated between employers and their employees have fallen sharply during 2009. Pay settlements have averaged below 2%, with many companies freezing pay. The recession, and the associated drop in employers' demand for labour, has been a key influence on settlements. Inflation measures frequently cited in pay negotiations have also moderated, further reducing upward pressures on pay. This short article examines the recent movements in settlements.
- Subjects
EFFECT of inflation on wages; INCOME inequality; COMPENSATION management; PRICE inflation; GLOBAL Financial Crisis, 2008-2009
- Publication
Bank of England Quarterly Bulletin, 2009, Vol 49, Issue 4, p293
- ISSN
0005-5166
- Publication type
Article