The latest data* shows that the median basic pay increase is worth 2%, in the three months to the end of August 2021. The data suggests that 2% is now the new-normal, having dropped to a median nil award just over a year ago. Since that time, there has been a gradual increase in the value of pay awards, alongside a significant reduction in the numbers of companies implementing a pay freeze in place of any rise.
Over the year to the end of August 2021, pay awards in the private sector were worth a median of 1.6%, just a small increase from the 1.5% median recorded in the year to the end of July 2021. However, it is 0.4 percentage points below the 2% recorded for the year to the end of August 2020.