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Pay settlements in manufacturing remain steady

16 February 2011
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Pay settlements in manufacturing remain steadyPay settlements in the manufacturing industry for the three months to the end of January 2010 remained broadly stable, new figures have shown.

According to research from the EEF, the average settlement remained at 2.2 per cent, the same figure recorded to the end of December.

The industry body's data showed that the number of pay freezes has fallen slightly but remains at just over one in six settlements.

Lee Hopley, chief economist at the EEF, said that manufacturers face numerous operations management issues and that these are weighing heavily.

"Firms remain under intense pressure to control their internal costs in the face of global competition and these figures would suggest as yet the Bank of England has little to fear from inflationary agreements in manufacturing," she added.

Elsewhere, the EEF is calling on the government to rethink its Carbon Price Floor initiative, claiming it will add to the already heavy burden manufacturers have to deal with.
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