Average Weekly Earnings UK
Figures from The Office For National Statistics reported this month that Average weekly earnings for total pay was £621 and for regular pay was £578 in September 2022, showing a steady increase over time (except for early on in the coronavirus pandemic).
Average weekly earnings (AWE)
The rate of annual pay growth for total pay was 6.0%, and the annual pay growth for regular pay was 5.7%, in July to September 2022; this is the strongest growth in regular pay seen outside of the pandemic period.
Over the last 12 months, we have continued to see higher levels of bonus payments compared with previous bonus levels, particularly in March 2022 when the non-seasonally adjusted bonus payment was extremely strong. The largest bonus payments are in the finance and business services sector.
In real terms (adjusted for inflation), in July to September 2022, total pay fell by 2.6% on the year. A larger fall was last seen in February to April 2009, when it fell by 4.5% on the year. Regular pay fell by 2.7% on the year; this is slightly smaller than the record fall we saw in April to June 2022 (3.0%) but still remains among the largest falls we have seen since comparable records began in 2001.