A survey of UK furniture manufacturers has revealed that 91% of participants plan to increase wages in 2024 despite concerns about economic uncertainty.
British Furniture Manufacturers (BFM) Wages Survey 2024 predicts the average increase will be 4.9%.
Over the last two years, average production wages in the industry will have increased by around 10% due to high consumer inflation and skill shortages.
The BFM’s Wages Survey looks at pay across 24 job roles including foreman, upholsterer, cabinet maker and mattress maker, as well as standard hours and holidays.
“As part of our work, BFM regularly surveys the industry on key topics to provide insight to members," says BFM Managing Director, Phil Spademan.
“Our survey this year has found that economic uncertainty is the most significant factor influencing wage awards this year, followed by margins and the new National Minimum Wage.
“The survey also showed that 45% of participants believe the rise in the National Living Wage will reduce the difference in wage levels between skilled and unskilled workers.”
