Average weekly earnings including bonuses in the UK surged 7.3% year-on-year to GBP 574 in the three months March to May 2021, the biggest increase since series began in 2001. Annual growth in average employee pay is being affected by temporary factors that have inflated the increase in the headline growth rate; compositional effects where there has been a fall in the number and proportion of lower-paid employee jobs so increasing average earnings; and base effects where the latest months are now compared with the start of the coronavirus (COVID-19) pandemic when earnings were first affected and pushed down. Excluding bones, earnings also went up 6.6 percent to GBP 540. source: Office for National Statistics

Wage Growth in the United Kingdom averaged 2.86 percent from 2001 until 2021, reaching an all time high of 7.30 percent in May 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 July of 2021.

Wage Growth in the United Kingdom is expected to be 4.50 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 3.40 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 2.80 percent in 2022 and 2.20 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
7.30 5.60 7.30 -2.70 2001 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-06-15 06:00 AM Average Earnings excl. Bonus Apr 5.6% 4.6% 5.3% 5.1%
2021-06-15 06:00 AM Average Earnings incl. Bonus Apr 5.6% 4.3% 4.9% 4.7%
2021-07-15 06:00 AM Average Earnings excl. Bonus May 6.6% 5.6% 6.6% 6.3%
2021-07-15 06:00 AM Average Earnings incl. Bonus May 7.3% 5.6% 7.1% 6.9%
2021-08-17 06:00 AM Average Earnings incl. Bonus Jun 5.4%
2021-09-14 06:00 AM Average Earnings incl. Bonus Jul
2021-10-12 06:00 AM Average Earnings incl. Bonus Aug
2021-11-16 07:00 AM Average Earnings incl. Bonus Sep


News Stream
UK Wage Growth at Record High
Average weekly earnings including bonuses in the UK surged 7.3% year-on-year to GBP 574 in the three months March to May 2021, the biggest increase since series began in 2001. Annual growth in average employee pay is being affected by temporary factors that have inflated the increase in the headline growth rate; compositional effects where there has been a fall in the number and proportion of lower-paid employee jobs so increasing average earnings; and base effects where the latest months are now compared with the start of the coronavirus (COVID-19) pandemic when earnings were first affected and pushed down. Excluding bones, earnings also went up 6.6 percent to GBP 540.
2021-07-15
UK Weekly Wages Rise the Most in 14 Years
Average weekly earnings including bonuses in the UK surged 5.6% year-on-year to GBP 571 in the three months to April of 2021, the biggest increase since March 2007, driven by compositional effects of a fall in the number and proportion of lower-paid employee jobs and because the latest month is now compared with April 2020 when earnings were first affected by the coronavirus pandemic (the base effect) and were up 1.1 percent only. It is estimated the net impact of recent job losses accounts for approximately 1.5 percent of annual pay growth. It compares with market expectations of a 4.9 percent rise. Excluding bones, earnings also went up 5.6 percent to GBP 539.
2021-06-15
UK Wage Growth Unexpectedly Slows
Average weekly earnings including bonuses in the UK advanced 4% to GBP 558 in the three months to March of 2021, the smallest increase since the three months to November of 2020 and following a 4.5% rise in February. Figures compare with market forecasts of 4.5%. Wage growth slowed in the private sector (3.7% vs 4.3%) but picked up in the public (5.6% vs 5.2%). Slower increases were also seen in services (4.5% vs 5%) and finance and business services (5.4% vs 6.3%). Excluding bonuses, nominal wages jumped 4.6% to GBP 525, the biggest rise since the three months to August of 2007, matching market estimates. Current average pay growth rates are being affected upwards by a fall in the number and proportion of lower-paid jobs compared with before the Covid-19 pandemic; it is estimated the net impact of recent job losses is to increase the estimate of average pay by approximately 1.7%, suggesting an underlying wage growth of around 2.5% for total pay and around 3.0% for regular pay.
2021-05-18
UK Earnings Growth Slows
Average weekly earnings including bonuses in the UK advanced 4.5% to GBP 568 in the three months to February of 2021, the smallest increase in three months and following a 4.8% rise in January which was the biggest rise since 2008. Figures compare with market forecasts of 4.8%. Wage growth slowed in the private sector (4.3% vs 4.8%) but rose faster in the public (5.2% vs 4.8%). Slightly slower increases were also seen in services (5% vs 5.4%), finance and business (6.3% vs 7.4%), manufacturing (1.8% vs 2.1%) and wholesaling and retailing (2.4% vs 3.2%). Average pay growth rates have been affected upwards by a fall in the number and proportion of lower-paid jobs compared with before the coronavirus pandemic. Therefore, it is estimated the net impact of recent job losses is to increase the estimate of average pay by approximately 1.9%, suggesting an underlying wage growth of around 2.5% for total and regular pay.
2021-04-20

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.