Zoe Woolacott | 24 Nov 2020

Median award falls to 2.0% as outcomes continue to vary

The median pay award across the economy has fallen to 2.0% for the three months to October 2020, according to the latest analysis from IDR. The median had been drifting lower under the impact of the slowdown associated with the global pandemic and the latest figures show that this trend is continuing, albeit at a quieter time for pay setting than earlier in the year. The coronavirus pandemic and its subsequent impact has caused many employers to postpone decisions on pay. Some of these deferrals have subsequently resulted in later awards, with pay increases effective for shorter periods. At the same time, the latest period contains a lower proportion of freezes than earlier in the year.

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