Tag Archives: Financial services

Earnings growth drops further to 2.2%

Growth in average earnings weakened further in the year to the end of January, according to the latest data from the Office for National Statistics. Much of the fall is due to lower bonuses, but ‘regular pay’, that is growth excluding bonuses, was also lower than previously in most areas of the economy.

Average weekly earnings rose by 2.2% in the year to January, down from 2.6% in the year to December and 2.8% in the year to November. These figures are for total earnings, including bonuses, across the whole of the economy. Excluding bonuses, the annual rate of increase in the year to January was 2.3%, down from 2.6% in December. Continue reading Earnings growth drops further to 2.2%

Private sector earnings overtake the public sector

Earnings growth has dropped back, according to the latest figures from the Office for National Statistics. Average weekly earnings across the whole economy grew by 2.3% in three-months to July, compared to a year ago, down from the revised figure of 2.5% for June.

In the private sector, average weekly earnings grew by 2.4% in the year to July, down from the revised figure of 2.6% for both May and June but still above the lower levels seen in the spring. Earnings growth in the public sector was 1.7% in the year to June, down from the 1.9% seen in both May and June, but also higher than seen at the start of the year. This still means that average earnings in the private sector at £505 a week are now greater than in the public sector at £499 a week, a trend that has emerged since April of this year. Continue reading this free article

Earnings growth weakens to 2% as economy falters

Growth in earnings looked to have slowed considerably towards the end of last year, according to the latest average weekly earnings figures from the ONS (20 January). These show that average weekly earnings rose by 2.0% across the whole economy in the year to November 2015, down from 2.4% in October and from 3.4% in the year to September. Continue reading Earnings growth weakens to 2% as economy falters