'Tight market' | Pay awards fall for second consecutive rolling quarter

The latest data from XpertHR indicates that pay awards are beginning to cool, despite public sector pay deals reaching record levels.

Falling for the second consecutive rolling quarter, from 5.4% (revised) in the three months to the end of July, to 5% in the three months to the end of August, this month’s research suggests pay awards have reached their peak.

With inflation set to drop to around 5% by the end of 2023, employees can expect the gap between pay growth and inflation to track more favorably.

Latest rolling quarter findings