UK workers' total earnings, including bonuses, advanced by an annual 3.2% to GBP 544 per week in the three months to November 2019, the same rate as in the previous period and slightly above market expectations of a 3.1% gain. It was the smallest increase since the three months to September 2018. Pay growth eased in the private sector (3.1% vs 3.2%); finance & business services (4.2% vs 4.3%); manufacturing (2.6% vs 2.8%); construction (4.4% vs 5%) and wholesaling, retailing, hotels & restaurants (1.8% vs 2.2%), while it edged up in the public sector (3.3% vs 3.1%) and services (3.2% vs 3.1%). Excluding bonuses, earnings were up 3.4% to GBP 511 per week, the least since the three months to April, following a 3.5% increase in the previous period and in line with market estimates. In real terms, earnings including bonuses increased 1.6% to GBP 503 per week and those excluding bonuses rose 1.8% to GBP 472 per week. Wage Growth in the United Kingdom averaged 2.88 percent from 2001 until 2019, reaching an all time high of 6.60 percent in February of 2007 and a record low of -2.60 percent in March of 2009. source: Office for National Statistics

Wage Growth in the United Kingdom is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in the United Kingdom to stand at 3.20 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 3.30 percent in 2020, according to our econometric models.


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United Kingdom Average Weekly Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
3.20 3.20 6.60 -2.60 2001 - 2019 percent Monthly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-12-17 09:30 AM Average Earnings excl. Bonus Oct 3.5% 3.6% 3.4% 3.5%
2019-12-17 09:30 AM Average Earnings incl. Bonus Oct 3.2% 3.7% 3.4% 3.5%
2020-01-21 09:30 AM Average Earnings excl. Bonus Nov 3.4% 3.5% 3.4% 3.3%
2020-01-21 09:30 AM Average Earnings incl. Bonus Nov 3.2% 3.2% 3.1% 3.2%
2020-02-18 09:30 AM Average Earnings incl. Bonus Dec 3.2% 3.3%


News Stream
2019-12-17
UK Wages Rise the Least in Over a Year
UK workers' total earnings, including bonuses, advanced by an annual 3.2% to GBP 542 per week in the three months to October 2019, following an upwardly revised 3.7% gain in the prior period and below market expectations of a 3.4% rise. The increase in earnings including bonuses was the slowest since the three months to September 2018. Pay growth eased in the public sector (3.1% vs 3.3%); private sector (3.2% vs 3.7%); services (3.1% vs 3.7%), namely finance & business services (4.3% vs 4.5%); construction (5% vs 6%) and wholesaling, retailing, hotels & restaurants (2.3% vs 3%). In contrast, wage growth edged up in manufacturing (2.7% vs 2.6%). Excluding bonuses, earnings were up 3.5% to GBP 510 per week, the least since the three months to April, following a 3.6% increase in the previous period and slightly above market estimates of a 3.4% gain. In real terms, earnings including bonuses went up 1.5%, and those excluding bonuses rose 1.8%.

2019-11-12
UK Wages Grow Less than Expected
UK workers' total earnings, including bonuses, advanced by an annual 3.6 percent to GBP 542 per week in the three months to September 2019, after a downwardly revised 3.7 percent gain in the prior period and missing market expectations of a 3.8 percent rise. Wages growth slowed in the public sector (3.2 percent vs 3.4 percent), services (3.6 percent vs 3.7 percent) and manufacturing (2.6 percent vs 2.8 percent); while remained steady in the private sector (at 3.7 percent), finance & business services (at 4.4 percent) and wholesaling, retailing, hotels & restaurants (at 3.1 percent). In contrast, wages increased faster in construction (6.0 percent vs 5.8 percent). Excluding bonuses, earnings were up 3.6 percent to GBP 508 per week, following a 3.8 percent increase in the previous period and missing market estimates of a 3.8 percent gain. In real terms, earnings including bonuses went up 1.8 percent, and those excluding bonuses rose 1.7 percent.

2019-10-15
UK Wages Growth Below Estimates at 3.8%
UK workers' total earnings, including bonuses, advanced by an annual 3.8 percent to GBP 542 per week in the three months to August 2019, following a downwardly revised 3.9 percent gain in the previous period and missing market expectations of a 4 percent rise. Wages growth slowed in the public sector (3.5 percent vs 3.7 percent); services (3.9 percent vs 4.0 percent), namely finance & business services (4.5 percent vs 4.8 percent); the private sector (3.8 percent vs 4.0 percent) and construction (5.7 percent vs 6.3 percent), but picked up in wholesaling, retailing, hotels & restaurants (3.2 percent vs 2.7 percent) and manufacturing (2.7 percent vs 2.5 percent). Excluding bonuses, earnings were up 3.8 percent to GBP 509 per week, down from an upwardly revised 3.9 percent gain in the previous period and slightly above market expectations of a 3.7 percent increase. In real terms, earnings including bonuses went up 1.9 percent, and those excluding bonuses rose 2.0 percent.

2019-09-10
UK Wages Grow the Most in Over 11 Years
UK workers' total earnings, including bonuses, advanced by an annual 4% to GBP 542 per week in the three months to July 2019, the fastest pace since the three months to June 2008, following an upwardly revised 3.8% gain in the prior period and above market expectations of a 3.7 percent rise. Wages growth accelerated in the private sector (4.1% vs 4%); services (4.2% vs 3.9%), namely finance & business services (5.3% vs 4.8%); construction (6.2% vs 6.1%) and wholesaling, retailing, hotels & restaurants (2.8% vs 2.4%), but slowed in the public sector (3.7% vs 4%) and manufacturing (2.4% vs 2.6%). Excluding bonuses, earnings were up 3.8% to GBP 507 per week, after a 3.9% increase in the previous period and matching market expectations. In real terms, earnings including bonuses went up 2.1%, and those excluding bonuses rose 1.9%.

2019-08-13
UK Wage Growth Strongest since 2008
UK workers' total earnings, including bonuses, advanced by an annual 3.7% to GBP 538 per week in the three months to June 2019, the fastest pace in 11 years, following an upwardly revised 3.5% gain in the prior period and matching market expectations. Wages growth accelerated across all sectors: the private sector (3.9% vs 3.4% in May); the public sector (3.9% vs 3.6%); services (3.8% vs 3.5%), namely finance & business services (4.6% vs 4.1%); manufacturing (2.4% vs 1.9%); construction (5.9% vs 5.3%) and wholesaling, retailing, hotels & restaurants (2.4% vs 0.9%). Excluding bonuses, earnings were up 3.9% to GBP 505 per week, the strongest rise in wages since the three months to June 2008, after a 3.6% increase in the previous period and slightly above market expectations of a 3.8% gain. In real terms, earnings including bonuses went up 1.8%, and those excluding bonuses advanced 1.9%.

2019-07-16
UK Wage Growth Beats Expectations
UK workers' total earnings, including bonuses, advanced by an annual 3.4% to GBP 536 per week in the three months to May 2019, following an upwardly revised 3.2% gain in the previous period and above market consensus of a 3.1% rise. Wages advanced further in the private (3.4% vs 3.3% in April); public sector (3.6% vs 3.1%); services (3.5% vs 3.3%); finance & business services (4% vs 3.4%); manufacturing (2.1% vs 1.8%); and construction (5.2% vs 5%). Meanwhile, pay growth eased in wholesaling, retailing, hotels & restaurants (0.8% vs 1.2%). Excluding bonuses, earnings were up 3.6% to GBP 503 per week, the strongest gain in wages since the three months to July 2008, after a 3.4% increase in the prior period and beating market forecasts of 3.5%. In real terms, earnings including bonuses went up 1.7%, and those excluding bonuses advanced 1.4%.


United Kingdom Average Weekly Earnings Growth
In the United Kingdom, wage growth refers to changes in average weekly earnings, before tax and other deductions and including bonuses.

United Kingdom Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.80 3.80 12.00 3.40 percent [+]
Employed Persons 32901.00 32801.00 32901.00 23630.00 Thousand [+]
Unemployed Persons 1240.20 1218.00 3090.00 422.60 Thousand [+]
Part Time Employment 8544.00 8564.00 8704.00 5995.00 Thousand [+]
Full Time Employment 24357.00 24238.00 24357.00 19136.00 Thousand [+]
Employment Rate 76.30 76.20 76.30 65.60 percent [+]
Claimant Count Change 14.90 14.90 142.80 -98.50 Thousand [+]
Labor Force Participation Rate 79.40 79.20 79.40 74.10 percent [+]
Long Term Unemployment Rate 0.90 1.00 4.30 0.90 percent [+]
Youth Unemployment Rate 11.40 11.90 22.30 9.70 percent [+]
Labour Costs 109.40 108.90 109.40 20.90 points [+]
Productivity 101.30 100.90 101.60 42.40 points [+]
Job Vacancies 805.00 798.00 861.00 432.00 Thousand [+]
Wages 544.00 543.00 544.00 300.00 GBP/Week [+]
Wages in Manufacturing 622.00 621.00 622.00 356.00 GBP/Week [+]
Wage Growth 3.20 3.20 6.60 -2.60 percent [+]
Minimum Wages 8.21 7.83 8.21 5.05 GBP/Hour [+]
Population 66.19 65.81 66.19 52.20 Million [+]
Retirement Age Women 65.50 65.00 65.50 60.00 [+]
Retirement Age Men 65.50 65.00 65.50 65.00 [+]
Living Wage Family 1300.00 1230.00 1300.00 1180.00 GBP/Month [+]
Living Wage Individual 895.00 850.00 900.00 785.00 GBP/Month [+]
Wages High Skilled 2330.00 2110.00 2460.00 2110.00 GBP/Month [+]
Wages Low Skilled 1320.00 1180.00 1320.00 1180.00 GBP/Month [+]
Average Weekly Hours 32.00 32.20 33.50 31.30 Hours [+]
Employment Change 208.00 24.00 311.00 -279.00 Thousand [+]