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Average pay rise 'increases'

04 Jan 2008

Average pay rise 'increases' Students and graduates looking forward to their first pay rises may be pleased to know that the average pay rise in the private sector has increased, according to a new report.

The research, by Incomes Data Services (IDS), showed that average pay rises in the sector are now at 4 per cent which is due to higher inflation.

Ken Mulkearn, editor of the IDS Pay Report, said: "While the jury is still out on the extent to which the credit crunch in finance will affect the rest of the economy, our initial look at January deals confirms the continued influence of high inflation on pay negotiations in the private sector."

He added that in 2006 the Treasury argued in 2006 that "inflation increases were caused by 'temporary factors', however average inflation for 2007 stands at 4.3 per cent overall".

It is believed that the increase in pay deals in the private sector might put more pressure on the government to give bigger pay rises in the public sector.

The average pay rise for 2007 was 3.5 per cent, according to the IDS research.

IDS is a research organisation which focuses on employment-related areas, its first Pay Report was launched in 1966. The company was taken over by Sweet & Maxwell in 2005.

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