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

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.”