Average weekly earnings including bonuses in the UK decreased by 0.3 percent from a year earlier to GBP 530 in the three months to May of 2020, following a 1 percent rise in the three months to April and compared to market expectations of a 0.4 percent drop. It was the first fall in earnings since June of 2014. Wages fell in finance and business services (-0.2 percent vs 0.8 percent), manufacturing (-1.7 percent vs a flat reading in April), construction (-6.9 percent vs -2.8 percent) and wholesaling, retailing, hotels & restaurants (-3.6 percent vs -0.9 percent). Excluding bonuses, average weekly earnings increased by 0.7 percent, above market forecasts of 0.5 percent. In real terms, total pay fell 1.3 percent and regular pay was down 0.2 percent.

Wage Growth in the United Kingdom averaged 2.85 percent from 2001 until 2020, 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 August of 2020. source: Office for National Statistics

Wage Growth in the United Kingdom is expected to be -3.40 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 1.20 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 1.60 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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United Kingdom Average Weekly Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 1.00 6.70 -2.70 2001 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-16 06:00 AM Average Earnings excl. Bonus Apr 1.7% 2.7% 1.9% 1.9%
2020-06-16 06:00 AM Average Earnings incl. Bonus Apr 1% 2.3% 1.4% 1.5%
2020-07-16 06:00 AM Average Earnings excl. Bonus May 0.7% 1.7% 0.5% 0.5%
2020-07-16 06:00 AM Average Earnings incl. Bonus May -0.3% 1% -0.4% -0.7%
2020-08-11 06:00 AM Average Earnings incl. Bonus Jun -0.3% -1.2% -1%
2020-09-15 06:00 AM Average Earnings incl. Bonus Jul
2020-10-13 06:00 AM Average Earnings incl. Bonus Aug
2020-11-10 07:00 AM Average Earnings incl. Bonus Sep -3.4%


News Stream
UK Wages Fall Less than Expected
Average weekly earnings including bonuses in the UK decreased by 0.3 percent from a year earlier to GBP 530 in the three months to May of 2020, following a 1 percent rise in the three months to April and compared to market expectations of a 0.4 percent drop. It was the first fall in earnings since June of 2014. Wages fell in finance and business services (-0.2 percent vs 0.8 percent), manufacturing (-1.7 percent vs a flat reading in April), construction (-6.9 percent vs -2.8 percent) and wholesaling, retailing, hotels & restaurants (-3.6 percent vs -0.9 percent). Excluding bonuses, average weekly earnings increased by 0.7 percent, above market forecasts of 0.5 percent. In real terms, total pay fell 1.3 percent and regular pay was down 0.2 percent.
2020-07-16
UK Wage Growth Slows More than Estimated
Average weekly earnings including bonuses in the UK increased by 1 percent from a year earlier to GBP 529 in the three months to April of 2020, easing from a 2.4 percent rise in the three months to March and missing market expectations of 1.4 percent. It was the smallest increase in earnings since the third quarter of 2014 as the country entered a coronavirus lockdown on March 23rd and many businesses closed. Wage growth slowed in services (1.4 percent vs 2.4 percent) such as finance and business services (0.9 percent vs 1.8 percent) and fell in wholesaling, retailing, hotels & restaurants (-0.8 percent vs 2 percent). In addition, wage growth eased in manufacturing (0.3 percent vs 1.8 percent) and dropped in construction (-2.8 percent vs 2.72 percent). Excluding bonuses, average weekly earnings increased by 1.7 percent, also below market forecasts of 1.9 percent. In real terms, total pay fell 0.4 percent and regular pay was up 0.4 percent.
2020-06-16
UK Total Pay Growth Weakest in Nearly 2 Years
Average weekly earnings including bonuses in the UK increased by 2.4 percent from a year earlier to GBP 540 in the three months to March of 2020, easing from a 2.8 percent rise in the three months to February and missing market expectations of 2.6 percent. It was the smallest increase in earnings since the second quarter of 2018 as wage growth slowed in services (2.5 percent vs 3. percent) such as finance and business services (2.1 percent vs 3.1 percent), and wholesaling, retailing, hotels & restaurants (2 percent vs 2.1 percent). In addition, wage growth eased in both manufacturing (1.7 percent vs 2 percent) and construction (2.3 percent vs 2.7 percent). Excluding bonuses, average weekly earnings increased by 2.7 percent, also below market forecasts of 3.0 percent. In real terms, total pay rose 0.7 percent and regular pay was up 1 percent.
2020-05-19
UK Wage Growth Slows to 2.8%
Average weekly earnings in the UK increased by 2.8 percent from a year earlier in the three months to February 2020, easing from a 3.2 percent rise in the September to November period and missing market expectations of 3.0 percent. Wage growth slowed in services (3.0 percent vs 3.2 percent) such as finance and business services (3.0 percent vs 4.2 percent), while earnings in wholesaling, retailing, hotels & restaurants advanced at slightly faster pace (2.1 percent vs 1.9 percent). In addition, wage growth eased in both manufacturing (2.0 percent vs 2.7 percent) and construction (2.7 percent vs 4.5 percent). Excluding bonuses, average weekly earnings increased by 2.9 percent, also below market forecasts of 3.0 percent. In real terms, total pay rose 1.2 percent and regular pay was up 1.3 percent.
2020-04-21

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.