Average weekly earnings including bonuses in the UK increased by 2.4 percent from a year earlier to GBP 540 in the three months to March of 2020, easing from a 2.8 percent rise in the three months to February and missing market expectations of 2.6 percent. It was the smallest increase in earnings since the second quarter of 2018 as wage growth slowed in services (2.5 percent vs 3. percent) such as finance and business services (2.1 percent vs 3.1 percent), and wholesaling, retailing, hotels & restaurants (2 percent vs 2.1 percent). In addition, wage growth eased in both manufacturing (1.7 percent vs 2 percent) and construction (2.3 percent vs 2.7 percent). Excluding bonuses, average weekly earnings increased by 2.7 percent, also below market forecasts of 3.0 percent. In real terms, total pay rose 0.7 percent and regular pay was up 1 percent.

Wage Growth in the United Kingdom averaged 2.88 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 May of 2020. source: Office for National Statistics

Wage Growth in the United Kingdom is expected to be -1.20 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 0.50 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 1.60 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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United Kingdom Average Weekly Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
2.40 2.80 6.70 -2.70 2001 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-21 06:00 AM Average Earnings excl. Bonus Feb 2.9% 3.1% 3% 2.9%
2020-04-21 06:00 AM Average Earnings incl. Bonus Feb 2.8% 3.1% 3% 3%
2020-05-19 06:00 AM Average Earnings excl. Bonus Mar 2.7% 2.9% 2.6% 2.7%
2020-05-19 06:00 AM Average Earnings incl. Bonus Mar 2.4% 2.8% 2.6% 2.5%
2020-06-16 06:00 AM Average Earnings incl. Bonus Apr 2.4% 1.5%
2020-07-14 06:00 AM Average Earnings incl. Bonus May 0.2%
2020-08-11 06:00 AM Average Earnings incl. Bonus Jun -1.2%
2020-09-15 06:00 AM Average Earnings incl. Bonus Jul
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
UK Total Pay Growth Weakest in Nearly 2 Years
Average weekly earnings including bonuses in the UK increased by 2.4 percent from a year earlier to GBP 540 in the three months to March of 2020, easing from a 2.8 percent rise in the three months to February and missing market expectations of 2.6 percent. It was the smallest increase in earnings since the second quarter of 2018 as wage growth slowed in services (2.5 percent vs 3. percent) such as finance and business services (2.1 percent vs 3.1 percent), and wholesaling, retailing, hotels & restaurants (2 percent vs 2.1 percent). In addition, wage growth eased in both manufacturing (1.7 percent vs 2 percent) and construction (2.3 percent vs 2.7 percent). Excluding bonuses, average weekly earnings increased by 2.7 percent, also below market forecasts of 3.0 percent. In real terms, total pay rose 0.7 percent and regular pay was up 1 percent.
2020-05-19
UK Wage Growth Slows to 2.8%
Average weekly earnings in the UK increased by 2.8 percent from a year earlier in the three months to February 2020, easing from a 3.2 percent rise in the September to November period and missing market expectations of 3.0 percent. Wage growth slowed in services (3.0 percent vs 3.2 percent) such as finance and business services (3.0 percent vs 4.2 percent), while earnings in wholesaling, retailing, hotels & restaurants advanced at slightly faster pace (2.1 percent vs 1.9 percent). In addition, wage growth eased in both manufacturing (2.0 percent vs 2.7 percent) and construction (2.7 percent vs 4.5 percent). Excluding bonuses, average weekly earnings increased by 2.9 percent, also below market forecasts of 3.0 percent. In real terms, total pay rose 1.2 percent and regular pay was up 1.3 percent.
2020-04-21
UK Wage Growth Above Forecasts
UK workers' total earnings, including bonuses, advanced by an annual 3.1% to GBP 547 per week in the three months to January of 2020, above a 2.9% rise in the previous period and market expectations of a 3% increase. Pay growth quickened in the private sector (3.1% vs 2.8%); services (3.2% vs 2.9%), of which wholesaling, retailing, hotels & restaurants (2.2% vs 1.1%); while slowed in the public sector (3.2% vs 3.3%); finance & business services (3.6% vs 3.7%); manufacturing (2.2% vs 2.7%) and construction (3% vs 3.1%). Excluding bonuses, earnings were up 3.1% to GBP 512 per week, the least since the three months to August of 2018, slightly below a 3.2% increase in the previous period and missing market expectations of 3.2%. In real terms, earnings including bonuses went up 1.5% to GBP 503 per week and those excluding bonuses rose 1.5% to GBP 471 per week.
2020-03-17
UK Wage Growth Nears 1-1/2-Year Low of 2.9%
UK workers' total earnings, including bonuses, advanced by an annual 2.9% to GBP 544 per week in the three months to December 2019, the slowest pace since the three months to August 2018, below a 3.2% rise in the previous period and missing market expectations of a 3% increase. Pay growth eased in the private sector (2.7% vs 3.1%); services (2.9% vs 3.1%), of which finance & business services (3.7% vs 4.2%); construction (3.2% vs 4.5%) and wholesaling, retailing, hotels & restaurants (1.1% vs 1.9%); while it remained steady in the public sector (at 3.3%) and manufacturing (at 2.7%). Excluding bonuses, earnings were up 3.2% to GBP 512 per week, the least since the third quarter of 2018, following a 3.4% gain in the previous period and slightly below market estimates of 3.3%. In real terms, earnings including bonuses increased 1.4% to GBP 503 per week and those excluding bonuses rose 1.8% to GBP 474 per week.
2020-02-18

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.