Can I please get help with the following Data Response Question?
Pay rises in service companies fell sharply in the first half of the year to reach their lowest level for almost a decade, new figures showed today. Settlements averaged 4.4%, around the rate of inflation, compared with 6% in the second half of last year and 7.1% in the first six months of 1991, according to the Confideration of British Industry's pay data bank.
The CBI said 'realistic' deals were being agreed as the message got through that pay had to match preformance. Since last autumn, low company profits have been reported as an important reason for reduced pay rises as has increased unemployment. Service company settlements are now close to those in manufacturing, where deals averaged 4.3% in the first three months of the year.
CNI director general Sir John Banham said: 'The new realism about pay and preformance across the private sector as a whole illustrated by these figures is clearly not a flash in the pan.'
'Wage cost developments now compare more favourably with our overseas competitors."
Two questions go with that:
1. How did pay settlements change in the first half of 1992 according to the article? (6)
2. Explain why 'low company profits' and 'increased unemployment' might have affected:
a) the number of workers firms want to employ (4)
b) how much they are prepared to pay them (4)
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Economics Data Response Problem watch
- Thread Starter
- 07-12-2003 12:55
- Thread Starter
- 07-12-2003 17:06
Come on guyz, i really need the help. I have to hand this over by tomorrow! If I understand it, I wouldn't have asked.