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IRS annual review of pay trends 2008/09: private sector pay
Every subsector of the private sector shows a fall in the median pay award between 2007/08 and 2008/09. According to our summary, pay in the finance sector appears to have held up the best, however, while four sectors have sunk to a median of nil for basic settlements.
Chemicals, pharmaceuticals and oil: one-third of reviews are a pay freeze
Pay freezes were completely absent from the chemicals, pharmaceuticals and oil sector this time last year. In the 2008/09 pay round, however, more than one-third of the sector's reviews did not yield an increase on adult basic rates.
Construction: median award dips sharply to nil
The construction industry has been badly affected by the recession, and the severity of the economic downturn has inevitably had a considerable impact on settlements levels in this important sector.
Electricity, gas and water: settlements worth 2% at the midpoint
Pay awards in the utilities sector, worth 2% at the median, are down on this time last year, but are nevertheless running ahead of those in the whole economy.
Engineering and metals: median award is a pay freeze
There has been a steep decline in pay awards in the engineering sector, with the settlement standing at nil. As the industry continues to suffer from tough economic conditions and weak confidence levels, there is little likelihood of an immediate upturn.
Finance: merit awards drawn from 3.5% pot
There have been two sides to finance sector reward over the past year, with the median basic increase pitched at nil, contrasting with a midpoint 3.5% rise in merit budgets.
Food, drink and tobacco: sharp fall in pay settlements
The median pay award in the food, drink and tobacco sector has fallen from the seven-year high of 3.3% in 2007/08 to 2% in 2008/09, but it nevertheless remains above the midpoint for the whole economy.
General manufacturing: pay settlements now stand at nil
The median pay award in the highly diverse general manufacturing sector has fallen back to nil, pushing it below the midpoint settlement for the whole economy.
Charity: pay deals higher than public sector
Pay in the charity sector has demonstrated resilience in the face of recession, outperforming the median settlement for both the public and private sectors.
Housing association: pay outperforms private sector
In a reversal of recent trends, the value of the median pay award among housing associations, at 2.2%, has overtaken that in the private sector.
Paper, printing and publishing: median dips to 2%
The median pay review in paper, printing and publishing has fallen back to 2% after successive increases in the value of the midpoint award.
Retail and wholesale: median falls to six-year low
Pay in the retail sector is a tale of two halves, with settlement levels depressed by an escalation in the number of pay freezes and lower awards in the latter part of the bargaining year.
Transport and communications: pay awards collapse
Pay awards in the transport and communications sector have dropped to a pay freeze, but this disguises higher pay awards for rail workers.
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