XpertHR data: UK employers' pay deals hit 10-year high – Reuters

Dhwani Mehta FXStreet

The latest data from industry consultants XpertHR showed on Thursday, major UK employers gave average pay rises of 2.6% to staff in the three months to July, the highest pace of increase in more than 10 years, as cited by Reuters.

Key Findings:

“Annual pay settlements in Britain began to rise roughly a year ago as the lowest unemployment rate since the mid-1970s put pressure on employers to retain staff, but deals had been stuck at around 2.5% in recent months.

The increase in the latest data represented the strongest rise since the three months to December 2008.

XpertHR noted signs of caution among employers with less than a quarter of awards higher than the same group of employees received at their previous pay review while 43% were lower.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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