Average weekly earnings including bonuses in the UK increased 3.6 percent from a year earlier to GBP 567 in the three months to November of 2020, the biggest increase since September of 2019 and well above market forecasts of a 2.9 percent increase. Wages increased in both the public (4.2 percent) and private sector (3.3 percent); and in services (4.3 percent) and finance and business services (5.4 percent); manufacturing (0.8 percent); and wholesaling, retailing, hotels and restaurants (3.1 percent). In contrast, wages continued to fall in construction (-1.1 percent). Excluding bonuses, nominal wages also jumped 3.6 percent. Current average pay growth rates are being impacted upwards by a fall in the number and proportion of lower-paid jobs compared with before the coronavirus pandemic; it is estimated that underlying wage growth - if the effect of this change in profile of jobs is removed - is likely to be under 2 percent. source: Office for National Statistics

Wage Growth in the United Kingdom averaged 2.80 percent from 2001 until 2020, reaching an all time high of 6.70 percent in February of 2007 and a record low of -2.70 percent in March of 2009. This page provides the latest reported value for - United Kingdom Average Weekly Earnings Growth - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Average Weekly Earnings Growth - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Wage Growth in the United Kingdom is expected to be 2.80 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 1.60 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 1.50 percent in 2022 and 1.90 percent in 2023, according to our econometric models.

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United Kingdom Average Weekly Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
3.60 2.80 6.70 -2.70 2001 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-15 07:00 AM Average Earnings excl. Bonus Oct 2.8% 1.9% 2.6% 2.3%
2020-12-15 07:00 AM Average Earnings incl. Bonus Oct 2.7% 1.4% 2.2% 2.0%
2021-01-26 07:00 AM Average Earnings excl. Bonus Nov 3.6% 2.8% 3.2% 3%
2021-01-26 07:00 AM Average Earnings incl. Bonus Nov 3.6% 2.8% 2.9% 2.7%
2021-02-23 07:00 AM Average Earnings incl. Bonus Dec 3.6% 4.1% 4%
2021-03-23 07:00 AM Average Earnings incl. Bonus Jan 3%
2021-04-20 06:00 AM Average Earnings incl. Bonus Feb 2.7%
2021-05-18 06:00 AM Average Earnings incl. Bonus Mar 2.8%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
UK Wage Growth Highest since 2019
Average weekly earnings including bonuses in the UK increased 3.6 percent from a year earlier to GBP 567 in the three months to November of 2020, the biggest increase since September of 2019 and well above market forecasts of a 2.9 percent increase. Wages increased in both the public (4.2 percent) and private sector (3.3 percent); and in services (4.3 percent) and finance and business services (5.4 percent); manufacturing (0.8 percent); and wholesaling, retailing, hotels and restaurants (3.1 percent). In contrast, wages continued to fall in construction (-1.1 percent). Excluding bonuses, nominal wages also jumped 3.6 percent. Current average pay growth rates are being impacted upwards by a fall in the number and proportion of lower-paid jobs compared with before the coronavirus pandemic; it is estimated that underlying wage growth - if the effect of this change in profile of jobs is removed - is likely to be under 2 percent.
2021-01-26
UK Wage Growth Back to Pre-Pandemic Levels
Average weekly earnings in the UK increased 2.7 percent from a year earlier to GBP 560 in the three months to October of 2020, the most since February and well above market forecasts of a 2.2 percent increase. Wages increased in both the public (4.1 percent) and private sector (2.3 percent); services (3.4 percent) and finance and business services (4.6 percent); and rebounded in manufacturing (0.3 percent); and wholesaling, retailing, hotels and restaurants (1.6 percent). In contrast, wages continued to fall in construction (-2.2 percent). Excluding bonuses, nominal wages jumped 2.8 percent, the biggest gain since February.
2020-12-15
UK Wage Growth at 6-Month High
Average weekly earnings in the UK increased 1.3 percent from a year earlier to GBP 553 in the three months to September of 2020, the most since March and above market forecasts of a 1 percent increase. Wages increased in the public sector (3.7 percent), services (1.9 percent) and finance and business services (2.4 percent) but continued to fall in manufacturing (-0.2 percent), construction (-3.9 percent) and wholesale and retail trade (-0.5 percent). Excluding bonuses, nominal wages jumped 1.9 percent, the biggest gain since March.
2020-11-10
UK Total Pay Stalls, Beating Forecasts
Average weekly earnings in the UK were unchanged from a year earlier at GBP 550 in the three months to August of 2020, compared to market expectations of a 0.6 percent decline, and following three consecutive months of falling wages. Wages increased in the public sector (3.7 percent), services (0.6 percent) and finance and business services (0.2 percent) but continued to fall in manufacturing (-1.8 percent), construction (-5.7 percent) and wholesale and retail trade (-2.2 percent). Excluding bonuses, nominal wages were up 0.8 percent, the biggest gain since April. In real terms, total pay is growing at a slower rate than inflation, at -0.8 percent. Regular pay growth in real terms is now positive, at 0.1 percent.
2020-10-13

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.