Employment Update
The CIPD have published their annual report into trends in labour market and pay. The “go-to” section that all employers are interested in is their prediction for future pay increases:
(a) Predicted annual pay awards by sector
(b) Employers predict their own Company pay awards for the year
The key metrics on pay outlook from the report are:
1. Pay prediction by sector
Public 1%
Private 2%
Voluntary 1%
Average 1.4%
2. Average prediction of future pay increase
34% of employers predict a
1 - 1.99% pay rise this year
22% of employers predict a
2 - 2.99% pay rise this year
Full weighted average (predictions for all employers) – 1.7% pay increase this year
3. National statistics for comparison
RPI (Jul’17) - 3.6%
CPI (Jul’17) - 2.6%
The full set of labour market forecasts for spring 2017 are available
here
