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. source: Office for National Statistics
Wage Growth in the United Kingdom averaged 2.83 percent from 2001 until 2021, 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 2021.
Wage Growth in the United Kingdom is expected to be 2.20 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 1.70 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 1.50 percent in 2022 and 1.90 percent in 2023, according to our econometric models.