United Kingdom Average Weekly Earnings, Total Pay (incl. Bonuses) y/y

Country:
United Kingdom
GBP, Pound sterling
Sector:
Labor
Medium 3.3% 2.8%
3.1%
Last release Importance Actual Forecast
Previous
3.1%
3.3%
Next release Actual Forecast
Previous
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Average Weekly Earnings, Total Pay incl. Bonuses y/y reflect a change in average weekly earnings over the last three months compared to the same period of the previous year. It is considered the main indicator of short-term changes in earning in the UK.

The indicator is calculated based on a survey of 9,000 companies, which employ 13.8 million people. The survey covers information on the total amount of salaries in each company, and the number of employees who received the salaries in the reported period. The average weekly earnings are calculated based on this data (the amount is divided by the number of employees). The calculation does not include self-employed, Armed Forces and government-supported trainees.

Bonuses are included in the indicator calculation. This is the average amount paid to employees of British companies per week in return for work done, before taxes and other deductions. The figure does not include unearned income, benefits in kind or salary arrears. The full report version includes the nominal (not adjusted for inflation) and real (adjusted for inflation) values.

The indicator cannot be regarded as a pure measure of wages increase or decrease, because it does not take into account changes in the share of part-time workforce or changes in the workforce structure.

The average weekly earnings index is one of the leading indicators of inflation and consumer activity. Therefore the indicator growth may have a positive effect on the British pound.

Last values:

actual data

forecast

The chart of the entire available history of the "United Kingdom Average Weekly Earnings, Total Pay (incl. Bonuses) y/y" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
Oct 2018
3.3%
2.8%
3.1%
Sep 2018
3.0%
2.6%
2.8%
Aug 2018
2.7%
2.5%
2.6%
Jul 2018
2.6%
2.4%
2.4%
Jun 2018
2.4%
2.5%
2.5%
May 2018
2.5%
2.5%
2.6%
Apr 2018
2.5%
2.7%
2.6%
Mar 2018
2.6%
2.8%
2.8%
Feb 2018
2.8%
2.6%
2.8%
Jan 2018
2.8%
2.5%
2.7%
Dec 2017
2.5%
2.5%
2.5%
Nov 2017
2.5%
2.3%
2.5%
Oct 2017
2.5%
2.2%
2.3%
Sep 2017
2.2%
2.1%
2.3%
Aug 2017
2.2%
2.5%
2.2%
Jul 2017
2.1%
2.3%
2.1%
Jun 2017
2.1%
1.3%
1.9%
May 2017
1.8%
1.8%
2.1%
Apr 2017
2.1%
2.3%
Mar 2017
2.4%
2.3%
Feb 2017
2.3%
2.2%
Jan 2017
2.2%
2.6%
Dec 2016
2.6%
2.8%
Nov 2016
2.8%
2.6%
Oct 2016
2.5%
2.4%
Sep 2016
2.3%
2.3%
Aug 2016
2.3%
2.4%
Jul 2016
2.3%
2.5%
Jun 2016
2.4%
2.3%
May 2016
2.3%
2.0%
Apr 2016
2.0%
2.0%
Mar 2016
2.0%
1.8%
Feb 2016
1.8%
2.1%
Jan 2016
2.1%
1.9%
Dec 2015
1.9%
2.1%
Nov 2015
2.0%
2.4%
Oct 2015
2.4%
3.0%
Sep 2015
3.0%
3.0%
Aug 2015
3.0%
2.9%
Jul 2015
2.9%
2.6%
Jun 2015
2.4%
3.2%
May 2015
3.2%
2.7%
Apr 2015
2.7%
1.9%
Mar 2015
1.9%
1.7%
Feb 2015
1.7%
1.8%
Jan 2015
1.9%
2.1%
Dec 2014
2.1%
1.7%
Nov 2014
1.8%
1.4%
Oct 2014
1.4%
1.0%
Sep 2014
1.0%
0.7%

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