Average weekly earnings including bonuses in the UK increased by 7% year-on-year to GBP 615 in the three months to March of 2022, above 5.6% in the previous period and much higher than market forecasts of 5.4%. It was the strongest increase in earnings since the three months to August of 2021. Regular pay which excludes bonus payment went up 4.2%, also above 4.1% in the three months to February and market expectations of 4.1%. Wages in the private sector rose 8.2% and in the public 1.6%. Adjusted for inflation, however, growth in total pay was 1.4% and regular pay fell on the year by 1.2%, the biggest drop since 2013, continuing to point to a further squeeze in UK living standards. source: Office for National Statistics
Wage Growth in the United Kingdom averaged 2.99 percent from 2001 until 2022, reaching an all time high of 8.80 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 May of 2022.
Wage Growth in the United Kingdom is expected to be 6.40 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.