United Kingdom Minimum Hourly Wage  Forecast


Minimum Wages in the United Kingdom is expected to be 7.50 GBP/Hour by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Minimum Hourly Wage is projected to trend around 9.00 GBP/Hour in 2020, according to our econometric models.

United Kingdom Minimum Hourly Wage
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United Kingdom Labour Last Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 4.3 4.5 4.5 4.6 4.6 5.1
Employed Persons 30974 30940 31200 31250 31300 31800
Unemployed Persons 806 807 809 811 813 833
Part Time Employment 8540 8600 8620 8670 8700 8960
Full Time Employment 23596 23550 23590 23610 23640 23990
Employment Rate 75.3 74.6 74.5 75.37 75.2 74.1
Claimant Count Change -2.8 15 12 16 11 6
Labor Force Participation Rate 78.8 78.7 79 79.2 79.2 82
Long Term Unemployment Rate 1.2 1.3 1.4 1.4 1.5 2.4
Youth Unemployment Rate 11.8 12.8 13 13.1 13.2 14.6
Labour Costs 103 104 105 105 105 110
Productivity 102 104 104 105 105 110
Job Vacancies 774 780 783 784 785 792
Wages 505 507 508 510 512 532
Wage Growth 2.1 1.9 2 2.1 2.2 2.5
Wages in Manufacturing 588 587 589 591 593 614
Minimum Wages 7.5 7.5 7.5 8 8 9
Population 65.81 65.81 65.81 66.29 66.29 67.16
Retirement Age Women 63.5 63.5 63.5 63.7 63.8 66
Retirement Age Men 65 65 65 65 65 66
Wages Low Skilled 1190 1300 1300 1310 1310 1550
Wages High Skilled 2140 2290 2290 2310 2310 2490
Living Wage Family 1152 1240 1240 1290 1290 1520
Living Wage Individual 1044 1120 1120 1170 1170 1470
Average Weekly Hours 32.2 32.2 32.2 32.2 32.2 32.3
Employment Change 0.4 0.4 0.5 0.5 0.5 0.4