Average weekly earnings including bonuses in the UK increased by 6.8% year-on-year to GBP 604 in the three months to April of 2022, below 7% in the three months to March and much less than forecasts of 7.6%. Regular pay which excludes bonus payment went up 4.2%, the same as in the previous quarter but above expectations of 4%. Adjusted for inflation, however, growth in total pay was 0.4% but regular pay fell 2.2%, the biggest drop since 2011, continuing to point to a further squeeze in UK living standards. Considering the April month only, average real earnings excluding bonuses were 3.4% lower yoy, the biggest drop since records began in 2001. source: Office for National Statistics
Wage Growth in the United Kingdom averaged 3.01 percent from 2001 until 2022, reaching an all time high of 9 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 July of 2022.
Wage Growth in the United Kingdom is expected to be 6.80 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.