PAY deals at manufacturing firms have shown a slight fall in the past quarter, according to the latest figures from industry organisation EEF and JAM Recruitment.
The data shows that the average pay settlement for the period was 2.5%, down from 2.7% for the three months to the end of July.
While this is based on a relatively small number of settlements, the data illustrate the tight economic conditions and uncertainty within the economy over the past few months.
And while the trend seen since the recovery began of most settlements being at, or below, 3% continues, one in 10 settlements are still freezes.
EEF regional director David Ost said: “While settlements are continuing to hover at the lower range of normal levels, the slight fall in the latest data reflects both a mood of uncertainty prevalent through the summer months, but also realism.
“If we are not there already, then we are rapidly approaching the point where fears of wage inflation are off the radar.”
