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Pay rises in private sector increase

Published: Friday, 04 January 2008   Category: Graduate Job sector Reports

Students who are looking for graduate jobs in the private sector may be pleased to hear that pay rises are currently averaging at 4 per cent, an increase of 0.6 per cent since last month, according to a new report.

The research, from Income Data Services (IDS) shows that the increases are being triggered by higher inflation.

Ken Mulkearn, editor of the IDS Pay Report, said: "While the jury is still out on the extent to which the credit crunch in finance will affect the rest of the economy, our initial look at January deals confirms the continued influence of high inflation on pay negotiations in the private sector."

It is now believed that the results of the report could influence the government to be more generous with pay deals for people working in the public sector.

IDS is a research organisation which was launched in 1966 and focuses on employment-related areas.

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