- Thursday, 6 May 2010Those in the private sector with
debt management plans could find their wages increase in the coming months as the number of pay freezes in effect falls, according to an expert.
Incomes Data Services (IDS) revealed today (May 6th) that in the three months to the end of March 2010, 31 per cent of pay settlements had been frozen.
This is a decline in comparison to the three months ending in February 2010 34 per cent of pay settlements had been frozen. The figures are based on 112 payment settlements covering 313,214 employees.
Ken Mulkearn, editor of IDS Pay Report, whose staff collects and analyse the pay settlement data for IDSPay.co.uk, said: "The proportion of freezes is drifting downwards, in a reversal of trends witnessed at this time last year, when the number of zero awards was rising steadily."
Last year, many companies were slashing workers' wages by reducing their hours and pay freezes were common in the private sector.
Pay rises have also slightly improved with an average increase of 1.9 per cent in March compared to 1.8 per cent in February, which could help workers, especially those with
debt management plans.
The biggest improvements were in the manufacturing industries and the private sector.
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