Employers to freeze pay

17/11/2009

Half of all employers intend to freeze pay despite the worst of the downturn seemingly having passed.

That's according to research by the CBI and Harvey Nash, who claim that just 4 per cent of firms said they intend to make inflation-beating rises.

John Cridland, CBI deputy director general said "The worst of the recession may be over but firms remain ultra cautious about increasing pay."

However the figures do show that the number of businesses with a recruitment freeze had dropped from 61 per cent in the spring to 37 per cent now.

Although the jobless total has hit 2.46million, this was lower than first feared as workers caved in on pay to avoid job cuts.

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