As we approach the end of the year, pay settlement activities are drawing to a close. However, having remained stable over the last few months, all signs are now for a decline in awards when activity picks up in the new year.
With pay awards continuing to fall, alongside cooling inflation, we examine whether this trend will continue into 2025. Our latest survey explores anticipated pay awards for the next 12 months and the factors influencing these decisions.
Pay awards across the economy have fallen over the past year, but how have individual sectors and industries fared? We breakdown our pay settlement data to provide a detailed look at pay award activity.
Since the historic pay settlements recorded in 2023, pay awards have dipped slightly, but remain among the highest measured in the last 30 years. In this article, we explore all pay delas collected in the last 12 months, providing breakdowns by sector and type of award.
In this resource we analyse the peaks and troughs of the pay bargaining year, unveiling the most and least common months for organisations to implement an annual pay review.
As we reach the halfway point of 2024, the median pay award has consistently remained below 5% in the year so far. The latest Brightmine analysis explores the impact of the recent national living wage rises on pay awards, as well as discussing how the proposals made by the new Labour Government may affect 2025 pay awards.
With April being the busiest month for pay settlements, we have seen little movement in awards reported so far in 2024. With this in mind, expectations for 2024 remain that pay settlements will remain below 5%.