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| Private sector pay 'to trail inflation' in 2011 | |
| (40 minutes later) | |
| Private sector pay could rise by more this year than in 2010, but is still likely to trail inflation, research by Incomes Data Services has suggested. | Private sector pay could rise by more this year than in 2010, but is still likely to trail inflation, research by Incomes Data Services has suggested. |
| The data suggests typical pay awards were running at 2.2% in November, up from the 2% rises that characterised most of the past year. | The data suggests typical pay awards were running at 2.2% in November, up from the 2% rises that characterised most of the past year. |
| However, this is less than half the rate of retail price inflation (RPI). | However, this is less than half the rate of retail price inflation (RPI). |
| The public sector in the UK faces pay freezes in most areas as a result of the government's spending cuts. | The public sector in the UK faces pay freezes in most areas as a result of the government's spending cuts. |
| While the number of explicit pay freezes has been dropping sharply, IDS expects public sector pay rises to fall from a typical 0.75% in 2010. | While the number of explicit pay freezes has been dropping sharply, IDS expects public sector pay rises to fall from a typical 0.75% in 2010. |
| In the private sector, pay rises may average 3% this year, it predicted. | In the private sector, pay rises may average 3% this year, it predicted. |
| The latest official figures suggest that RPI - which includes mortgage interest payments - rose to 4.7% in November - from 4.5%. | The latest official figures suggest that RPI - which includes mortgage interest payments - rose to 4.7% in November - from 4.5%. |
| And with many analysts expecting RPI to remain above 4% this year, the report suggests that another year of declining real incomes is in prospect for most UK workers, as the rate of pay increases fails to keep pace with inflation. | And with many analysts expecting RPI to remain above 4% this year, the report suggests that another year of declining real incomes is in prospect for most UK workers, as the rate of pay increases fails to keep pace with inflation. |