Incomes Data Research said the median pay settlement awarded by major British employers had increased to 5.6% in the three months to April, the highest in records dating back to 2005 and up from 5.0% in the three months to the end of March.
The IDR's measure of median pay rises for both the private and public sector had been steadily increasing from an already above-average 4.0% in April last year due to the surge in the cost of living and inflation, Woolacott said. "Pay rises in excess of 6% are common across the private sector as inflation remains elevated.... The recent uplift in the National Living Wage has also influenced the rising median," Woolacott said.
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