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Bank: Pay rises could be back PDF Print E-mail
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Latest Recruitment News - HR and Recruitment Legislation News
Written by DirectNews Feed   
Thursday, 20 May 2010 00:00
Bank: Pay rises could be backPay rises for workers could be becoming more common again following the recession, new research released yesterday (May 19th) has indicated.

According to the Bank of England's monthly assessment of businesses in the UK, millions of employees who suffered cuts to their salary during the recession may now be on course to receive a pay rise as the country emerges from the global economic downturn, reports the Daily Mail.

Many workers have seen pay rises be stopped by their employer over the last two years, but the bank has found that there are "tentative" signs that increases in wages are on their way back, despite the ongoing eurozone fiscal crisis and the news earlier this week that inflation has soared to its highest level since 1991.

The study, which involves the bank questioning bosses around the country about their upcoming plans on employee pay, found that in April, the number of pay rises across the nation went up by a "small" amount while the number of firms introducing pay freezes dropped.

Posted by James Strang

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