Settlements remain stable
The level of pay awards remains steady at just below the rate of inflation, according to our latest monthly analysis.
The upturn in the level of pay settlements at the start of the new year has been sustained, as shown by the latest figures from the IRS databank. The headline measure of basic pay awards - the midpoint in the range - for the three months to 31 March 2003 remains at 2.9% for the third consecutive rolling quarter.
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