Average weekly earnings in the UK were unchanged from a year earlier at GBP 550 in the three months to August of 2020, compared to market expectations of a 0.6 percent decline, and following three consecutive months of falling wages. Wages increased in the public sector (3.7 percent), services (0.6 percent) and finance and business services (0.2 percent) but continued to fall in manufacturing (-1.8 percent), construction (-5.7 percent) and wholesale and retail trade (-2.2 percent). Excluding bonuses, nominal wages were up 0.8 percent, the biggest gain since April. In real terms, total pay is growing at a slower rate than inflation, at -0.8 percent. Regular pay growth in real terms is now positive, at 0.1 percent. source: Office for National Statistics
Wage Growth in the United Kingdom averaged 2.81 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 October of 2020.
Wage Growth in the United Kingdom is expected to be -2.00 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 1.00 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 1.10 percent in 2021 and 1.50 percent in 2022, according to our econometric models.