Regular pay in the UK which excludes bonuses, increased 5.6% year-on-year to GBP 660/week in the three months to November 2024, the most in six months, compared to 5.2% in the previous period which was the lowest since June 2022, and in line with forecasts. Wage growth accelerated at the private sector (6% vs 5.5%) but continued to slowdown at the public one (4.1% vs 4.3%). Manufacturing (6%), wholesaling, retailing, hotels & restaurants (6%), and finance and business services (6%) saw the largest annual regular wage growth rate, followed by construction (5.8%) and services (5.6%). Adjusted for inflation, wage growth in real terms was 2.5%, above 2.3% in the previous period. source: Office for National Statistics
Average Earnings Excluding Bonus in the United Kingdom increased to 5.60 percent in November from 5.20 percent in October of 2024. Average Earnings Excluding Bonus in the United Kingdom averaged 3.29 percent from 2001 until 2024, reaching an all time high of 7.90 percent in August of 2023 and a record low of -0.20 percent in June of 2020. This page includes a chart with historical data for the United Kingdom Average Earnings Excluding Bonus YoY. United Kingdom Average Earnings Excluding Bonuses YoY - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.
Average Earnings Excluding Bonus in the United Kingdom increased to 5.60 percent in November from 5.20 percent in October of 2024. Average Earnings Excluding Bonus in the United Kingdom is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Average Earnings Excluding Bonuses YoY is projected to trend around 2.60 percent in 2026 and 2.30 percent in 2027, according to our econometric models.