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Manufacturing pay rises are averaging 2.6%

27 Aug 2014

The latest release from EEF, the manufacturers organisation, indicates that pay for manufacturers increased by an average 2.6% in the six months to July

The news may be surprising, following the recent Monetary Policy Committee (MPC) announcement that wage growth in the economy as a whole is fairly benign (see here). However, it seems that manufacturers are finally rewarding employees after a difficult period following the global financial crisis - which will not go unnoticed by the MPC - perhaps bringing forward the next rise in interest rates

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