UK employer pay awards hold at 3.3%, Brightmine says

LONDON, July 22 (Reuters) - ‌Pay settlements ​by ​British employers held steady in the three months to June despite concerns about ‌the Iran war and economic uncertainty, according ⁠to data published on Wednesday that will be studied ‌by the Bank of ‌England.

The median pay award by employers remained at 3.3% in the three months to the end ​of June, matching the pace of the three previous rolling quarters, figures from human ⁠resources data firm Brightmine showed.

"While the big picture continues to remain ​uncertain for 2027, the remarkable level of stability in the year to date gives ​us some indication that organisations are ‌finding more sustainable pay positions in spite of wider economic challenges," said Sheila Attwood, Brightmine's senior content ⁠manager.

Below are details from the survey and related context:

• Pay settlements were higher than employers expected at the start of the ⁠year

• The median pay award of 3.3% is likely indicative of where pay awards ​will settle in 2026 as a whole

• Brightmine analysed 268 pay settlements between April 1 and June 30 covering more than 3.6 ‌million employees.

• Official data on Tuesday showed the jobs market stabilised at ‌weak levels

• The BoE is watching for signs ⁠that the energy price ‌jump caused by ​the Iran war is creating long-term inflation pressure.

(Reporting by Suban AbdullaEditing by William ‌Schomberg)

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