Average Weekly Earnings In Great Britain - August 2024

14th August 2024

Annual growth in employees' average regular earnings (excluding bonuses) was 5.4%; growth was last lower than this in May to July 2022, when it was 5.2%.

Annual growth in total earnings (including bonuses) was 4.5%; however, this total growth rate is affected by comparing with a period including June 2023, when the NHS one-off bonuses were paid.

Annual growth in real terms (adjusted for inflation using the Consumer Prices Index including owner occupiers' housing costs (CPIH)) was 2.4% for regular pay, and 1.6% for total pay.

Annual average regular earnings growth for the public sector remains strong at 6.0%, although down on the previous three-month period (6.4%); for the private sector this was 5.2%, with growth last lower than this in March to May 2022 (5.1%).

The finance and business services sector saw the largest annual regular growth rate at 6.2%; while the construction sector saw the smallest annual regular growth rate at 3.5%.

Average weekly earnings (AWE) were estimated at £690 for total earnings and £645 for regular earnings in June 2024. Figure 1 shows that average weekly earnings have steadily increased over the long term.

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