The number of UK pay deals above 4% is picking up as level of inflation rises, according to a report from Income Data Services (IDS).
The median average pay deal held steady at 3.5% in the three months to April, the IDS survey found.
But the number of deals above 4% rose to more than a third, as against a quarter in the previous three months.
By Michael Patterson
Alan Greenspan, whose comments on recession helped send stock prices reeling two weeks ago, predicted the subprime-mortgage debacle in the U.S. will worsen.
Shares of subprime lenders rose.
The former Federal Reserve chairman’s influence on stock prices was thrown into question — at least for one day — as the Standard & Poor’s 500 Index rallied after Bear Stearns Cos.’ earnings report assuaged concerns that loan delinquencies will drag down profits at financial companies.
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