Zoe Woolacott | 27 May 2020

Median remains steady as both freezes and higher awards rise

The median pay outcome across the economy remains at 2.5% for the three months to April 2020, according to the latest monitoring by IDR. The relative stability in the median comes at a time when the UK economy faces a likely recession following the COVID-19 lockdown. This is reflected in a rise in the number of pay freezes, though these have been offset to a certain extent by a rise in the number of higher-end awards in some sectors. April is a popular month for pay setting with nearly half of all awards across the economy usually taking place at this time, so the latest figures are a key indicator of how employers are responding to the unparalleled circumstances.

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