Average pay rises hit 15-year high

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Pay analysts IRS said wage rises increased by 0.3% in the final few months of 2007 to their highest level since November 1992.

Basic pay awards in the last few months of the year ranged from 2.5% to 6.7%, according to a study of more than 60 settlements covering more than 18,000 workers.

The increase was mainly due to pay rises being linked to the rate of inflation.

More than two-thirds of the deals were higher than a year ago, while average increases in private firms were 1% higher than those in the public sector at 3.5%.

Inflation was now on a downward trend, and deals in early January averaged 3.5%, the report noted.

Sheila Attwood of IRS said: "Higher inflation has been the key to some long-term deals at the end of 2007, pushing our headline settlement measure to a record high.

"However, a preview of early January 2008 awards reveals that deals are unlikely to be at the level recorded in December, but will be back to the 3.0% to 3.5% range seen through most of 2007."