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Pay rises at 3.5 per cent

22 Feb 2008

Pay rises at 3.5 per cent Pay rises for 2008 have averaged at 3.5 per cent according to a new report, giving good news to students who are in temporary work during their gap year.

IRS, a pay analyst, has revealed that pay rises have remained at the same level as they were at towards the end of last year.

Sheila Attwood, IRS Pay and Benefits editor, said: "Our findings this month will be welcome reading for the Bank of England. While pay settlements in the three months to the end of January 2008 are holding up at 3.5 per cent, closer analysis of just those effective in January reveals a weakening of the pay bargaining position."

She added that with headline inflation "nudged up to 4.1 per cent" in January, there will be continuing pressure put on employers to match the cost of living in pay increases.

The research took into account 130 pay awards which covered almost 105,000 employers.

It is welcome news for people in temp jobs who are currently anxiously waiting the outcome of the second reading of the controversial Temporary and Agency Workers Bill, which aims to give more right to people in temporary work.

Reports suggest that up to 150 labour MPs will rebel against the government by voting on the bill today.

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