UK workers' total earnings, including bonuses, increased by an annual 3.4 percent to GBP 527 per week in Q4 2018, the same pace as in the prior period and missing estimates of 3.5 percent. The increase in earnings including bonuses remains the fastest since the three months to July 2008. Pay growth picked up in finance & business services (3.5% vs 3.4%) and construction (4.3% vs 3.4%) while it was steady in the private (at 3.5%) and the public sector (at 2.8%). Meantime, wages advanced less in services (3.5% vs 3.6%); wholesaling, retailing, hotels & restaurants (2.7% vs 2.8%) and manufacturing (1.7% vs 1.8%). In December alone, wage growth slowed to 2.8 percent, the weakest single month rise since June. Excluding bonuses, earnings were up 3.4 percent to GBP 495 per week, after an upwardly revised 3.4 percent rise in the prior period, as expected. In real terms, earnings including bonuses went up 1.3 percent, and those excluding bonuses advanced 1.2 percent. Wage Growth in the United Kingdom averaged 2.84 percent from 2001 until 2018, reaching an all time high of 6.60 percent in February of 2007 and a record low of -2.60 percent in March of 2009.

Wage Growth in the United Kingdom is expected to be 2.70 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 2.70 in 12 months time. In the long-term, the United Kingdom Average Weekly Earnings Growth is projected to trend around 3.20 percent in 2020, according to our econometric models.

United Kingdom Average Weekly Earnings Growth
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-22 09:30 AM Average Earnings excl. Bonus 3.3% 3.3% 3.3% 3.2%
2019-01-22 09:30 AM Average Earnings incl. Bonus 3.4% 3.3% 3.3% 3.1%
2019-02-19 09:30 AM Average Earnings excl. Bonus 3.4% 3.4% 3.4% 3.3%
2019-02-19 09:30 AM Average Earnings incl. Bonus 3.4% 3.4% 3.5% 3.4%
2019-03-19 09:30 AM Average Earnings incl. Bonus 3.4%
2019-03-19 09:30 AM Average Earnings excl. Bonus 3.4%
2019-04-16 08:30 AM Average Earnings incl. Bonus


United Kingdom Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.00 4.00 12.00 3.40 percent [+]
Employed Persons 32597.00 32535.00 32597.00 23630.00 Thousand [+]
Unemployed Persons 1010.70 996.50 3090.00 422.60 Thousand [+]
Part Time Employment 8562.00 8514.00 8636.00 5995.00 Thousand [+]
Full Time Employment 24035.00 24021.00 24035.00 19136.00 Thousand [+]
Employment Rate 75.80 75.80 75.80 65.60 percent [+]
Claimant Count Change 14.20 20.20 142.80 -98.50 Thousand [+]
Labor Force Participation Rate 79.10 79.00 79.10 74.10 percent [+]
Long Term Unemployment Rate 1.10 1.00 4.30 0.90 percent [+]
Youth Unemployment Rate 11.50 11.40 22.30 9.70 percent [+]
Productivity 101.60 101.40 101.90 43.10 Index Points [+]
Labour Costs 104.80 103.90 104.80 20.70 Index Points [+]
Job Vacancies 870.00 855.00 870.00 432.00 Thousand [+]
Wages 527.00 527.00 527.00 300.00 GBP/Week [+]
Wage Growth 3.40 3.40 6.60 -2.60 percent [+]
Wages in Manufacturing 607.00 605.00 607.00 356.00 GBP/Week [+]
Minimum Wages 8.21 7.83 8.21 5.05 GBP/Hour [+]
Population 66.19 65.81 66.19 52.20 Million [+]
Retirement Age Women 65.50 65.00 65.50 60.00 [+]
Retirement Age Men 65.50 65.00 65.50 65.00 [+]
Living Wage Family 1300.00 1230.00 1300.00 1180.00 GBP/Month [+]
Living Wage Individual 895.00 850.00 900.00 785.00 GBP/Month [+]
Wages Low Skilled 1320.00 1180.00 1320.00 1180.00 GBP/Month [+]
Wages High Skilled 2330.00 2110.00 2460.00 2110.00 GBP/Month [+]
Average Weekly Hours 32.00 32.20 33.50 31.30 Hours [+]
Employment Change 167.00 141.00 307.00 -279.00 Thousand [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.40 3.40 6.60 -2.60 2001 - 2018 percent Monthly
SA




Country Last Previous
Argentina 2.56 Nov/18
Australia 2.30 Dec/18
Canada 2.00 Nov/18
Euro Area 2.40 Sep/18
France 0.40 Jun/18
Germany 1.50 Sep/18
Italy 1.70 Dec/18
Japan 1.80 Dec/18
Netherlands 1.98 Jan/19
Russia 0.20 Jan/19
Switzerland 0.50 Sep/18
United Kingdom 3.40 Dec/18
United States 4.20 Nov/18


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