Report: Labour Market Outlook Winter 2015-16
Published in February 2016 the Labour Market Outlook provides a set of forward-looking labour market indicators, highlighting employers’ recruitment, redundancy and pay intentions.
The report suggests that median pay rises have fallen with rises of just 1.2% expected in the 12 months to December 2016. This compares to 2% three months ago.
Other key findings
- Employment confidence has fallen, driven largely by a weakening employment outlook in the private sector.
- More than two-thirds (68%) plan to hire staff in Q1 2016.
- Whilst the proportion of public sector employers planning to hire has risen from 75% to 80% over the past three months the proportion of private sector and voluntary sector employers who plan on doing so has fallen.
- Mean basic pay expectations have decreased to 1.9% from 2.3%.
- Small and medium-sized organisations have higher median pay expectations.
- Around a fifth (19%) of employers plan to freeze pay in the 12 months to December 2016, compared to 15% in the autumn 2015 report.
- Nearly half (49%) of employers say their basic pay reward will be between 1 and 1.99% - up 29% from the autumn 2015 report.
Download the CIPD Labour Market Outlook Winter 2015-16
