Pay awards fall back to 3.4%

The median level of pay awards has slipped back to 3.4% in the three months to the end of October 2007, according to our latest round-up of pay deals.

On this page:
Headline pay award is 3.4%
Key findings from the IRS pay databank
Below-inflation minimum wage uprating has muted impact
Half of October retail awards above NMW increase
Looking ahead
Putting inflation in context
Interest rates held at 5.75%
Inflation Report
Also on XpertHR
Table 1: Private sector pay awards, October 2006 to October 2007
Box 1: State of play in key negotiations
Chart 1: Pay review pattern, October 2006 to October 2007
Table 2: Whole-economy pay awards, October 2006 to October 2007

Headline pay award is 3.4%

The median basic pay award - the midpoint in the range of increases - stands at 3.4% for the three months to 31 October 2007, down 0.1 percentage point on the revised rate for the previous rolling quarter (3.5%).