Pay trends in 2016 and outlook for 2017
New report on pay bargaining outlook published.
Pay Trends in 2016 and Outlook for 2017 is a new report for the TUC from Incomes Data Research setting out the state of pay in the UK. The report first analyses hundreds of 2016 settlements by sector before discussing the prospects for 2017. Key themes for this year include inflation, public sector pay, and Brexit.
It takes into account what employers have told us about their priorities for the coming year in respect of pay and conditions. IDR monitors hundreds of pay settlements across all sectors of the economy. It collects this data directly from employers. We use the data to produce an overview of trends in basic pay awards, so that employers and anyone concerned with pay setting can make decisions on pay increases. We also conduct regular surveys of reward practitioners in company, asking them about what has guided their recent decisions and what might influence their future intentions The report also takes account of forecasts for inflation, the economy and the labour market. Regarding the latter, we comment on how the labour market might be shaped by the post-referendum situation and the prospects of a so-called ‘hard’ Brexit.
A must-read for trade union negotiators, stewards and anyone who want to understand the current context of pay bargaining.