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.

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United Kingdom Average Weekly Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
0.00 -1.00 6.70 -2.70 2001 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-15 06:00 AM Average Earnings excl. Bonus Jul 0.2% -0.2% -0.2% -0.8%
2020-09-15 06:00 AM Average Earnings incl. Bonus Jul -1% -1.2% -1.3% -1.1%
2020-10-13 06:00 AM Average Earnings excl. Bonus Aug 0.8% 0.2% 0.6% 0.5%
2020-10-13 06:00 AM Average Earnings incl. Bonus Aug 0% -1% -0.6% -0.7%
2020-11-10 07:00 AM Average Earnings incl. Bonus Sep 0% -1%
2020-12-15 07:00 AM Average Earnings incl. Bonus Oct


News Stream
UK Total Pay Stalls, Beating Forecasts
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.
2020-10-13
UK Total Pay Beats Forecasts
Average weekly earnings in the UK decreased 1 percent from a year earlier in the three months to July of 2020, compared to market expectations of a 1.2 percent decline. It follows a 1.2 percent fall in the previous month which was the biggest fall in wages since the three months to April 2009. Subdued bonuses declined by an average 21.4 percent (in nominal terms). Main wage decreases were seen in the construction sector (-8.2 percent); the wholesaling, retailing, hotels and restaurants sector (-4.5 percent); and the manufacturing sector (-2.7 percent). In contrast, the public sector saw the highest gain at 4.2 percent. Excluding bonuses, nominal wages were up 0.2 percent. In real terms, pay is now growing at a slower rate than inflation, at negative 1.8 percent for total pay. Regular pay growth in real terms is also negative, at negative 0.7 percent.
2020-09-15
UK Total Pay Falls Most in Over a Decade
Average weekly earnings in the UK decreased 1.2 percent from a year earlier in the second quarter of 2020, compared to market expectations of a 1.1 percent decline. That was the biggest fall in wages since the three months to April 2009, amid lower pay for furloughed employees since March, and reduced bonuses. The biggest drop in earnings was seen in construction (-10.3 percent), followed by wholesaling, retailing, hotels & restaurants (-5.3 percent), manufacturing (-3.5 percent) and finance and business services (-0.9 percent). Excluding bonuses, nominal wages were down 0.2 percent, the first month of loss since 2001. In real terms, total pay fell 2.0 percent, the lowest rate since January to March 2012, and regular pay decreased 1.0 percent.
2020-08-11
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

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.