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TUC: Employers will expect pay rises this year
HR News |
04/03/2010
UK employees will expect pay rises following the end of the recession, HR professionals have been told.
Brendan Barber, general secretary of the Trades Union Congress (TUC), said that with inflation set to average around three per cent in 2010, employee morale could be affected by further wage freezes.
He said that while some firms will continue to struggle in 2010, unions "are wise to companies using the recession as a ruse to boost profit margins through pay freezes and cuts".
"The recession has been characterised by wage restraint and working fewer hours," Mr Barber added.
"However, excessive wage restraint damages the economy by holding back our spending power."
According to the Office for National Statistics, annual growth in wages reduced from four per cent in December 2007 to 1.2 per cent in December 2009.
Including bonuses, the figures become 4.5 per cent in 2007 and 0.8 per cent in 2009.
Posted by Stephen Wilkinson
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