489 - Pay and Benefits Bulletin - THE TWICE MONTHLY BULLETIN FOR PAY AND BENEFITS SPECIALISTS - Pay awards fall to six-year low - In the midst of the most important period in the bargaining calendar, our latest analysis finds that pay settlements fell sharply in the closing months of 1999, against a backdrop of historically low inflation. But with latest economic indicators pointing to an intensification of upward pay pressures over the coming months, an early analysis of January 2000 deals suggests that pay awards will return to the 3% mark in the early part of this year.