Average weekly earnings including bonuses in the UK increased by 6.0% year-on-year to GBP 621 in the three months to September of 2022, below a 6.1% gain in the three months to August which was the highest reading since the three months to May but above market forecasts of 5.9%. Regular pay which excludes bonus payment unexpectedly went up 5.7%, compared with market forecasts and the figure from the previous period of 5.5%. Adjusted for inflation, total pay fell 2.6% while regular pay dropped 2.7%, amid a squeeze in UK living standards. Considering the September month only, average real earnings excluding bonuses were 2.5% lower yoy, the 11th straight month of fall and after a 2.6% decline in August. source: Office for National Statistics
Wage Growth in the United Kingdom averaged 3.07 percent from 2001 until 2022, reaching an all time high of 9.20 percent in June of 2021 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 December of 2022.
Wage Growth in the United Kingdom is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 2.80 percent in 2023 and 2.40 percent in 2024, according to our econometric models.