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.

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United Kingdom Average Weekly Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.80 6.70 -2.70 2001 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-23 07:00 AM Average Earnings excl. Bonus Jan 4.2% 4.1% 4.4% 4.3%
2021-03-23 07:00 AM Average Earnings incl. Bonus Jan 4.8% 4.7% 4.9% 4.8%
2021-04-20 06:00 AM Average Earnings excl. Bonus Feb 4.4% 4.3% 4.2% 4%
2021-04-20 06:00 AM Average Earnings incl. Bonus Feb 4.5% 4.8% 4.8% 4.5%
2021-05-18 06:00 AM Average Earnings incl. Bonus Mar 4.5% 4.6% 4.4%
2021-06-15 06:00 AM Average Earnings incl. Bonus Apr
2021-07-15 06:00 AM Average Earnings incl. Bonus May
2021-08-17 06:00 AM Average Earnings incl. Bonus Jun


News Stream
UK Earnings Growth Slows
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.
2021-04-20
UK Wage Growth Strongest since 2008
Average weekly earnings including bonuses in the UK advanced 4.8% to GBP 572 in the three months to January of 2021, the biggest rise since the three months to March of 2008, but slightly below market expectations of a 4.9% gain. Wages increased in both the private (4.8%) and public sectors (4.7%); services (5.4%) and finance and business services (7.6%); manufacturing (2%); wholesaling, retailing, hotels & restaurants (3.2%) and construction (2.5%). Excluding bonuses, nominal wages rose 4.2% to GBP 532, the steepest gain since the three months to May of 2008, missing market estimates of a 4.4% increase. Current average pay growth rates are being affected upwards by a fall in the number and proportion of lower-paid jobs compared with before the COVID-19 pandemic; it is estimated the net impact of recent job losses is to increase the estimate of average pay by approximately 1.6% - suggesting an underlying wage growth of around 3% for total pay and around 2.5% for regular pay.
2021-03-23
UK Wage Growth Highest since 2008
Average weekly earnings including bonuses in the UK surged 4.7 percent from a year earlier to GBP 567 in the three months to December of 2020, the biggest rise since the three months to April of 2008 and well above market forecasts of a 4.1 percent gain. Wages increased in both the private (4.6 percent) and public sector (4.3 percent); services (5.3 percent) and finance and business services (6.8 percent); manufacturing (1.5 percent); wholesaling, retailing, hotels & restaurants (4.2 percent) and construction (1.9 percent). Excluding bonuses, nominal wages jumped 4.1 percent to GBP 534, the biggest rise since the three months to May of 2008, and beating market estimates of a 4 percent gain. Current average pay growth rates are being affected upwards by a fall in the number and proportion of lower-paid jobs compared with before the coronavirus pandemic; it is estimated that underlying wage growth - if the effect of this change in profile of jobs is removed - is likely to be under 3%.
2021-02-23
UK Wage Growth Highest since 2019
Average weekly earnings including bonuses in the UK increased 3.6 percent from a year earlier to GBP 567 in the three months to November of 2020, the biggest increase since September of 2019 and well above market forecasts of a 2.9 percent increase. Wages increased in both the public (4.2 percent) and private sector (3.3 percent); and in services (4.3 percent) and finance and business services (5.4 percent); manufacturing (0.8 percent); and wholesaling, retailing, hotels and restaurants (3.1 percent). In contrast, wages continued to fall in construction (-1.1 percent). Excluding bonuses, nominal wages also jumped 3.6 percent. Current average pay growth rates are being impacted upwards by a fall in the number and proportion of lower-paid jobs compared with before the coronavirus pandemic; it is estimated that underlying wage growth - if the effect of this change in profile of jobs is removed - is likely to be under 2 percent.
2021-01-26

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.