Average Weekly Earnings In Great Britain: September 2023

12th September 2023

In May to July 2023, annual growth in regular pay (excluding bonuses) was 7.8%, the same as the previous three-month period and the highest regular annual growth rate since comparable records began in 2001.

Annual growth in employees' average total pay (including bonuses) was 8.5% in May to July 2023; this total growth rate is affected by the NHS and civil service one-off payments made in June and July 2023.

In May to July 2023, annual growth in real terms (adjusted for inflation using Consumer Prices Index including owner occupiers' housing costs (CPIH)) for total pay rose on the year by 1.2% and for regular pay rose on the year by 0.6%.

Annual average regular pay growth for the public sector was 6.6% in May to July 2023 and is the highest regular annual growth rate since comparable records began in 2001; for the private sector this was 8.1% and one of the largest annual growth rates seen outside of the coronavirus (COVID-19) pandemic period.

The finance and business services sector saw the largest annual regular growth rate at 9.5%, followed by the manufacturing sector at 8.1%; this is one of the highest annual regular growth rates for the manufacturing sector since comparable records began in 2001.

Average weekly earnings (AWE) were estimated at £664 for total pay and £617 for regular pay in July 2023. Figure 1 shows that average weekly earnings have steadily increased, with the exception of the early months of the coronavirus (COVID-19) pandemic.

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