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Recent developments in pay settlements

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  • Hackworth, Chris

    () (Bank of England)

Abstract

Pay settlements negotiated between employers and their employees have fallen sharply during 2009. Pay settlements have averaged below 2%, with many companies freezing pay. The recession, and the associated drop in employers’ demand for labour, has been a key influence on settlements. Inflation measures frequently cited in pay negotiations have also moderated, further reducing upward pressures on pay. This short article examines the recent movements in settlements.

Suggested Citation

  • Hackworth, Chris, 2009. "Recent developments in pay settlements," Bank of England Quarterly Bulletin, Bank of England, vol. 49(4), pages 293-296.
  • Handle: RePEc:boe:qbullt:0011
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    File URL: https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2009/recent-developments-in-pay-settlements.pdf?la=en&hash=627CC6494061A111112BD67CC42833BA159158A1
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    References listed on IDEAS

    as
    1. Bruno Biais & David Martimort & Jean-Charles Rochet, 2000. "Competing Mechanisms in a Common Value Environment," Econometrica, Econometric Society, vol. 68(4), pages 799-838, July.
    2. Madhavan, Ananth, 2000. "Market microstructure: A survey," Journal of Financial Markets, Elsevier, vol. 3(3), pages 205-258, August.
    3. Toni Gravelle, 2002. "The Microstructure of Multiple-Dealer Equity and Government Securities Markets: How They Differ," Staff Working Papers 02-9, Bank of Canada.
    4. Kathryn Chen & Michael J. Fleming & John Jackson & Ada Li & Asani Sarkar, 2011. "An analysis of CDS transactions: implications for public reporting," Staff Reports 517, Federal Reserve Bank of New York.
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