Latest news with #payawards
Zawya
3 days ago
- Business
- Zawya
UK pay awards rise to 3.4% in three months to May, IDR survey shows
LONDON: Average annual pay awards offered by British employers rose in the three months to May, after an increase in the minimum wage boosted pay significantly for some lower-paid workers, a survey showed on Wednesday. Incomes Data Research said the median pay settlement awarded by major British employers had increased to 3.4% in the three months to May, up from 3.2% in the three months to the end of April. Median pay awards for private-sector workers increased to 3.5% in the same period, while public-sector pay awards averaged 3.6%. The proportion of private sector employers offering pay settlements of more than 6% jumped to 19% from April's 12%, reflecting higher increases in the services sector. The National Living Wage rose by 9.7% at the start of April to 10.42 pounds ($14.34) an hour. "The National Living Wage has a less direct impact in manufacturing, compared to private services," Zoe Woolacott, a senior researcher at IDR, said. "However, manufacturing employers still face pressures to offer competitive rates of pay in order to recruit and retain staff." The news is could to be a concern for the Bank of England, which is keeping a close watch on inflation pressures in the economy. The BoE, which held interest rates in June, has forecast a slowdown in pay growth this year and expects inflation to peak at 3.7% in September and remain just under 3.5% for the remainder of 2025. Official figures showed British pay growth slowed sharply in the three months to April to 5.2% while inflation cooled in May. IDR's survey, covering pay deals for 3.3 million employees, was based on 178 awards between March 1 and May 31.
Reuters
3 days ago
- Business
- Reuters
UK pay awards rise to 3.4% in three months to May, IDR survey shows
LONDON, July 2 (Reuters) - Average annual pay awards offered by British employers rose in the three months to May, after an increase in the minimum wage boosted pay significantly for some lower-paid workers, a survey showed on Wednesday. Incomes Data Research said the median pay settlement awarded by major British employers had increased to 3.4% in the three months to May, up from 3.2% in the three months to the end of April. Median pay awards for private-sector workers increased to 3.5% in the same period, while public-sector pay awards averaged 3.6%. The proportion of private sector employers offering pay settlements of more than 6% jumped to 19% from April's 12%, reflecting higher increases in the services sector. The National Living Wage rose by 9.7% at the start of April to 10.42 pounds ($14.34) an hour. "The National Living Wage has a less direct impact in manufacturing, compared to private services," Zoe Woolacott, a senior researcher at IDR, said. "However, manufacturing employers still face pressures to offer competitive rates of pay in order to recruit and retain staff." The news is could to be a concern for the Bank of England, which is keeping a close watch on inflation pressures in the economy. The BoE, which held interest rates in June, has forecast a slowdown in pay growth this year and expects inflation to peak at 3.7% in September and remain just under 3.5% for the remainder of 2025. Official figures showed British pay growth slowed sharply in the three months to April to 5.2% while inflation cooled in May. IDR's survey, covering pay deals for 3.3 million employees, was based on 178 awards between March 1 and May 31. ($1 = 0.7266 pounds)
BBC News
22-05-2025
- Health
- BBC News
Pay awards for health workers signed off by minister
The health minister has signed off on pay awards of around £200 million for health workers in Northern Ireland, but the money still has to be found to pay Pay Review Body (PRB) which proposes pay increases for health workers in Northern Ireland, England and Wales has recommended a 3.6 per cent rise for Agenda for Change contract staff for includes nurses, health visitors, midwives, ambulance staff, porters and and dentists have been offered 4% awards, with senior NHS managers being offered 3.25%. The PRB said the UK Government and the Department of Health Northern Ireland had told them that 2.8% was in budget for a pay on Thursday, the UK government accepted their health minister said he wanted to action the pay awards in full as soon as this year's awards were made public. 'I want to pay the workers' Mike Nesbitt said it was "not acceptable" last year that health workers had to wait until the "12th and final month of the financial year to get confirmation that they were going get their pay parity recommendation implemented".He said he was determined it would be the last said that, after signing off on the pay awards, he would be taking it to the permanent secretary, but it would be inevitable he would be told the Department of Health could not afford said his ministerial direction would likely be to go to the finance minister, "who may choose to implement it or pass it on to the executive for final decision"."I want to pay the workers because the workforce keeps the health service running."You need buildings, you need beds, you need equipment, you need medicine."All that is nothing if you don't have the workforce," he said. Stormont merry-go-round Analysis - Jayne McCormack BBC News NI Political CorrespondentSo begins another Stormont merry-go-round over Nesbitt has made it clear he doesn't want to have to find this funding in tranches, which if history is anything to go by, could take many he has chosen to issue what's called a ministerial direction - a formal instruction telling his department to proceed with this spending - even though he already knows the money isn't has effectively thrown the ball into the executive's court to help find the money or risk further angering health denied he was trying to "spread the blame around", insisting he is doing what he thinks is right, but it's bound to increase tensions around the executive table over tight finances. Health pay is a devolved matter in Northern recent years health workers have gone on strike to fight for pay parity with their colleagues in the rest of the said he was doing what he thinks is right, "which is to honour the pay parity agreements".He said the health service has a shortfall of more than £600 million because of the £200 million of pressures these pay awards add to the he hopes the NI Executive will join him in recognising that those who deliver healthcare care here "deserve the pay that they are recommended by these national bodies". 'Insufficient' Dr Alan Stout from the British Medical Association (BMA) said the recommendation from the Doctors' and Dentists' Pay Review body (DDRB) of a 4% pay uplift "does not sufficiently address the years of pay erosion and will be deeply disappointing for doctors right across Northern Ireland"."While we welcome the news that the minister intends to pay this in full, his comments are some cause for concern in terms of the time it may take to get a final decision on making the award, delaying again the actual uplift for members," he added.
