Earnings And Employment From Pay As You Earn Real Time Information, UK - June 2024

12th June 2024

Early estimates for May 2024 indicate that the number of payrolled employees rose by 0.6% compared with May 2023, a rise of 167,000 employees.

This annual increase was largest in the health and social work sector, a rise of 155,000 employees.

Payrolled employees broadly stayed the same in May 2024 when compared with April 2024, decreasing slightly by 3,000 employees; figures for May should be treated as provisional estimates and are likely to be revised when more data are received next month.

UK payrolled employee growth for April 2024 compared with March 2024 has been revised from a decrease of 85,000 reported in the last bulletin to a decrease of 36,000; this is because of the incorporation of additional real time information (RTI) submissions into the statistics, which takes place every publication and reduces the need for imputation.

Early estimates for May 2024 indicate that median monthly pay increased by 5.2% compared with May 2023.

Annual growth in median pay in May 2024 was highest in the accommodation and food service activities sector, with an increase of 9.8%, and lowest in the finance and insurance sector, with an increase of 1.9%.

Read the full report HERE