The latest figures from the Office for National Statistics (ONS) reveal that growth in average weekly earnings has continued to slow, in a trend that first emerged around a year ago. Figures for the latest rolling three-month period, December 2025 to February 2026, show that growth in whole economy regular earnings (excluding bonuses) is down from 3.8% to 3.6%. Regular earnings growth in the private sector also decreased from 3.3% to 3.2%, again continuing the recent downward trend.

Meanwhile, growth in total earnings (which includes bonuses) slowed across the economy as a whole, including in the private sector. Figures for the former show growth of 3.8%, down from 4.1% in January 2026, while private sector total earnings growth is down 0.2 percentage points, from 3.7% to 3.5%.

In real terms (adjusted for CPIH inflation), both regular and total earnings growth both slowed in the latest period. Regular pay growth stands at just 0.2%, down from 0.4% last month, and total pay growth fell to 0.4%, down from 0.7%.

Private sector

Regular pay growth continued to slow across most of the private sector in the three months to February. Only the finance and business services sector showed an upward trend since January, with bonuses the main factor. Here, growth in regular earnings was 2.4% (up very slightly from 2.3%) while total earnings (which includes bonuses) was up from 2.8% to 3.2%. Wholesaling, retailing, hotels and restaurants continues to exhibit the strongest average growth in both regular pay and total pay, at 4.2% and 4.7% respectively, but these are down from 4.8% and 5.2% in January.

In manufacturing, regular earnings grew by 3.5% and total earnings by 4.0%, lower compared with growth last month of 3.9% and 4.2% respectively. Earnings growth has also slowed – and on the measure that includes bonuses, actually reversed – in construction. The latest figures show growth of 0.5% in regular pay and a contraction of -0.4% in total pay, whereas in January both these areas showed (modest) growth, of 1.5% and 0.9% respectively. This is the first time a negative figure for total pay has been seen in this sector since November 2020, at the height of the coronavirus pandemic.

Public sector

The public sector (excluding financial services) continued to show the strongest pay growth in both regular and total earnings at 5.2% and 5.1% respectively. But even here, earnings growth has slowed since last month when they showed at 6.0% and 5.9%. These figures are higher than the private sector figures due to the impact of public sector pay policy, which has provided for ‘catch-up’ increases after a period in which these lagged behind those in the private sector.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

The latest figures from the Office for National Statistics (ONS) reveal that growth in average weekly earnings has continued to slow. Figures for the three-month period November 2025 to January 2026 show that growth in whole economy regular earnings (excluding bonuses) is down from 4.1% to 3.8%. This is the first time the figure has fallen below 4% since December 2021 when it was 3.9%. Regular earnings growth in the private sector also decreased but not as much as the whole economy: it is down by 0.1 percentage points from 3.4% to 3.3%.

Meanwhile, total earnings growth (which includes bonuses) slowed across the economy as a whole, but remained steady in the private sector. Figures for the former show growth of 3.9% down from 4.2% in December 2025, while private sector total earnings growth is 3.5% for the second month in a row.

In real terms (adjusted for CPIH inflation), regular earnings growth was 0.4% in the latest period, down from 0.5% in October to December 2025.

Private sector

Regular pay growth slowed across most of the private sector in the three months to January. Only the finance and business services sector showed an upward trend since December, with growth in regular earnings at 2.2% (up from 2.0%) and total earnings (which includes bonuses) up from 1.9% to 2.2%. Wholesaling, retailing, hotels and restaurants continues to exhibit the strongest average growth in both regular pay and total pay at 4.8% and 5.1% respectively but these are down from 5.1% and 5.5% in December. In manufacturing, regular earnings grew by 3.9% and total earnings by 4.2%, compared with growth last month of 4.4% for both. Earnings growth has also slowed in construction. The latest figures show growth of 1.6% in regular pay and 1.0% in total pay, whereas growth in these areas in December was 2.2% for both measures.

Public sector

The public sector (excluding financial services) continued to show the strongest pay growth in both regular and total earnings at 5.9% and 5.8% respectively. However, these percentages are both down significantly since last month when they showed at 7.2% and 7.0%.

Average weekly earnings differ from pay settlements

The average weekly earnings (AWE) growth figures continue to show a lead on our figures for basic pay awards (currently measuring at 3.3% for the whole economy for the three months to February 2026). This, sometimes known as ‘earnings drift’, is because the AWE data contains other elements of pay, such as shift and overtime, and as an average – or change in an average – is also affected by changes in the number of hours worked or composition of workforces at the organisations sampled each month.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Average weekly earnings growth has slowed again in the three months to December 2025. According to the latest figures from the Office for National Statistics (ONS), regular pay growth for the whole economy is down 0.2 percentage points from 4.4% to 4.2%. Total earnings growth is down to the same rate of 4.2%, this time from 4.6%. In the private sector, regular pay growth has also decreased, by 0.2 percentage points to 3.4%, while total pay growth is down by 0.3 percentage points to 3.5%.

In real terms, adjusted for CPIH inflation, the latest average weekly earnings growth figures were 0.5% for both regular and total pay. Adjusted for CPI inflation, annual growth was 0.8% for regular pay and 0.7% for total pay.

Sector by sector

Regular earnings in the finance and business services sector have continued to show the weakest growth of all the sub-sectors. Here regular pay growth decreased to just 2.0%, from 2.2% last month. Total pay growth also decreased, though much more significantly, from 3.0% to 1.9%. This reflects a decrease in bonuses as last month’s bonus figure for the sector showed at 17.4%, whereas this month’s bonus figure has almost halved to 9.7%.

By contrast the wholesaling, retailing, hotels and restaurants sub-sector continued to show the strongest growth out of all the industry sub-sectors, with regular pay growth remaining the same as the previous three-month figure, at 5.1%. Total pay growth increased, albeit marginally, by 0.1 percentage points to 5.5%.

In the construction sub-sector regular pay growth saw a small decrease from 2.4% to 2.3%. Total pay growth also showed a small fall of 0.2 percentage points to 2.4%. Meanwhile, in manufacturing, regular pay growth was slightly up by 0.1 percentage points to 4.4%. Here total earnings growth also grew, this time by 0.3 percentage points from 4.1% to 4.4%.

The public sector (excluding financial services) saw the strongest pay growth in both regular and total earnings. Here regular pay grew by 7.2% while total earnings grew by 7.0%. Although growth here was strong, both figures are down a whole percentage point from the previous month’s figures, indicating that earnings growth is gradually slowing down in the public sector too. Stronger earnings growth in the public sector reflects the fact that many public sector pay rises were paid earlier this year than last year, but this base effect has started to diminish.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Average weekly earnings growth in the private sector has slowed further, according to the latest figures from the Office for National Statistics (ONS). Regular earnings growth in the private sector, which excludes the effect of bonuses, decreased by 0.3 percentage points to 3.6% in the year to November. Growth in this sector has shown a continuous decline over the past three months, during which it has decreased from 4.2% in September. Total earnings growth (including bonuses) in the private sector declined by 0.2 percentage points to 3.9%.

Regular pay growth for the whole economy was also down, this time by 0.1 percetage points to 4.5% in the three months to November. Total earnings growth across the whole economy also showed a decrease, from 4.8% to 4.7%. These figures are stronger than those for the private sector mainly as a result of the contribution from the public sector (see below).

In real terms, when adjusted for CPIH inflation, the latest average weekly earnings growth figures were 0.6% for regular pay and 0.8% for total pay. When adjusted for CPI inflation, annual growth remained the same as last month for regular pay at 0.9% and slightly down by 0.1 percentage points for total pay at 1.0%.

Sector by sector

The wholesaling, retailing, hotels and restaurants sub-sector continued to show the strongest growth out of all the industry sub-sectors, though significantly slower than the previous month’s reporting. Here both regular and total pay growth were down by 0.4 percentage points but still showed at 5.1% and 5.4% respectively.

The construction sub-sector saw the largest decrease in regular pay growth. Here regular earnings grew by just 2.4%, down sharply from 3.0%. Total earnings growth for the construction sector also saw a large decrease, from 3.3% in the last release to 2.5% this time. Regular pay growth in manufacturing was slightly down by 0.1 percentage points to 4.4%. Here total earnings growth also fell, this time by 0.2 percentage points down to 4.2% from 4.4%.

Meanwhile, regular earnings in the finance and business services sector have shown the weakest growth of all the sub-sectors, growing by just 2.2%, while total pay grew by 3.2%. This slightly stronger growth is due to the fact that total pay includes bonuses. Indeed, the largest increase in bonuses was in the finance and business services sector where the latest figures are showing at 18.9%, up from 14.6% last time.

The public sector (excluding financial services) saw the strongest pay growth in both regular and total earnings. Here regular pay grew by 8.2% while total earnings grew by 8.0%. Relatively stronger earnings growth in the public sector reflects the fact that many public sector pay rises were paid earlier this year than last year, a base effect that will reduce in force over the coming months.

Separate HMRC pay growth figures, also published by the ONS, show a more timely picture of earnings growth. Here the median pay growth figure, for the economy as a whole, was 3.66% in the year to December 2025.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Average weekly earnings growth remains comparatively strong but has shown continued signs of slowing in the latest figures from the Office for National Statistics (ONS). Regular pay growth for the whole economy (excluding bonuses) was down from 4.7% to 4.6% in the three months to October. Regular earnings growth in the private sector also decreased, this time down by 0.3 percentage points to 3.9% from 4.2%. Total earnings growth (including bonuses) across the whole economy showed a decrease from 4.9% to 4.7%, while total earnings growth in the private sector declined by 0.4 percentage points, from 4.4% to 4.0%.

In real terms, when adjusted for CPIH inflation, the latest average weekly earnings growth was 0.5% for regular pay and 0.6% for total pay. When adjusted for CPI inflation, annual growth for regular pay was 0.9% and 1.0% for total pay.

By sector

Earnings in finance and business services continued to show the weakest growth of all the industry sub-sectors. Here regular earnings grew by just 2.3%, down from 2.8%, while total pay grew by 2.8%, down from 3.3%. By contrast, wholesaling, retailing, hotels & restaurants again showed the strongest growth out of all the industry sub-sectors, albeit slower than the previous month’s reporting. Here regular pay was down by 0.2 percentage points but still grew by 5.5%, while total pay was down 0.1 percentage points, growing by 5.8%.

Regular pay growth in manufacturing was slightly up, this time by 0.1 percentage points to 4.5%, while total earnings growth here fell by 0.2 percentage points, down to 4.4% from 4.6%. The construction sub-sector saw a large decrease in regular pay growth. Here regular earnings grew by just 2.9%, down sharply from 3.5%. Meanwhile total earnings growth saw a minor decrease in total pay, from 3.5% in the last release to 3.2% this time.

The public sector (excluding financial services) saw the strongest pay growth in both regular and total earnings at 8.0% and 8.2% respectively. These percentages are both significantly higher than last month’s regular pay and total pay figures of 7.1% and 7.4%. Earnings growth in the public sector reflects the fact that pay here is in a ‘catching-up’ phase, following comparatively higher pay awards earlier in the year, after a long period in which pay awards were much lower than in the private sector. It also reflects extra hours in areas like the NHS.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Average weekly earnings growth has shown signs of further slowing in the latest figures from the Office for National Statistics (ONS). Growth in whole economy regular earnings (excluding bonuses) was down slightly from 4.7% to 4.6% in the three months to September. Regular earnings growth in the private sector also decreased, this time down by 0.2 percentage points to 4.2%. Total earnings growth (including bonuses) across the whole economy showed a decrease from 5.0% to 4.8%. Total earnings growth in the private sector also saw a fall, from 4.8% to 4.4%. Bonuses decreased across almost all industries in the three months to September.

In real terms, regular earnings growth was 0.5%, when adjusted for the CPIH inflation measure, in the three months to September. This is down from 0.6% in June to August 2025. Real-terms total earnings growth also decreased, this time by 0.1 percentage point to 0.7%.

Sector by sector

Regular pay growth remains strong in the wholesaling, retailing, hotels and restaurant sector, despite it falling from 5.9% to 5.7%, while total pay growth in this sector remained the same at 5.8%.

Earnings growth in finance and business services was once again the weakest of all the sub-sectors. Here regular earnings grew by just 2.7%, down from 2.9%, while total pay grew by 3.2%, down from 3.3%.

Regular pay growth in manufacturing is also down, this time by 0.2 percentage points to 4.4%, while total earnings growth here fell by 0.5 percentage points down to 4.5%. The construction sub-sector saw a significant decrease in pay growth overall. Here regular earnings grew by 3.5%, down from 3.9%, while total earnings also grew by 3.5%, down sharply from 4.4%.

The public sector (excluding financial services) witnessed the strongest pay growth in both regular and total earnings at 7.1% and 7.3% respectively. These percentages are both higher than last month’s respective figures of 6.4% and 6.7%.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Average weekly earnings growth has shown signs of further cooling in the latest figures from the Office for National Statistics (ONS), for August 2025. Growth in whole economy regular earnings (excluding bonuses) was down slightly from 4.8% to 4.7%. Regular earnings growth in the private sector also decreased, this time down by 0.3 percentage points to 4.4%. Total earnings growth (including bonuses) across the whole economy showed a small increase from 4.8% to 5.0%. Total earnings growth in the private sector also saw a slight increase from 4.7% to 4.8%. Bonuses increased significantly in the three months to August. This would explain why total earnings are up, as this series includes bonus payments, while regular earnings, which do not include bonus payments, are down.

In real terms (adjusted for the CPIH measure), regular earnings growth was 0.6% in the three months to August, down from 0.7% in May to July 2025. Real-terms total earnings growth also increased, this time by 0.2 percentage points to 0.8%.

Sector by sector

Wholesaling, retailing, hotels and restaurants saw regular pay growth decline by 0.6 percentage points to 5.9% while total pay growth decreased by 0.4% percentage points to 5.7%. Despite seeing the largest percentage decreases, earnings growth remained strongest here when compared to the other private sub-sectors. In manufacturing, earnings growth saw little change in both measures. Regular pay grew by 4.6%, up from 4.5%, while total pay grew by 5.0%, up from 4.8%. The construction sub-sector saw weaker growth than manufacturing, with regular earnings growth here increasing by 3.9%, up from 3.8%. By contrast, total pay growth increased by 4.4%, though this increase was smaller than last month’s growth figure of 4.7%.

Earnings growth in finance and business services was the weakest of all the sub-sectors. Here regular earnings grew by just 2.9%, down from 3.0%, while total pay grew by 3.3%, up from 2.8%. The public sector (excluding financial services) saw the highest pay growth in both reguar and total earnings at 6.4% and 6.7% respectively. These percentages are higher than last month’s figure of 6.0% for both measures. According to the ONS, higher earnings growth in the public sector is due to pay rises being awarded earlier in 2025 than they were in 2024.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Average weekly earnings growth has once again slowed in the latest figures from the Office for National Statistics (ONS), for July 2025. Growth in whole economy regular earnings (excluding bonuses) was down slightly from 5.0% to 4.8%, as was private sector growth, down 0.1 percentage points to 4.7%. Total earnings for the whole economy showed a minor increase from 4.6% to 4.7%. But total earnings for the private sector decreased from 4.7% to 4.6%. Across other sectors total earnings have, in most cases, fallen — though the figures for the manufacturing sector showed an increase of 0.2 percentage points to 4.8%. In real terms (adjusted for the CPIH measure), regular earnings growth was 0.7% in the three months to July, down from 0.9% in April to June 2025. Real-terms total earnings growth remained the same as the previous period at 0.5%.

Sector by sector

Wholesaling, retailing, hotels and restaurants saw the highest pay growth in both regular and total earnings at 6.4% and 6.0%. However, both measures are down on last month’s figures, from 6.9% and 6.4% respectively. Manufacturing was the only sector to see increased total earnings growth in the three months to July, rising by 4.8%, up from 4.6%. Despite this, earnings growth in terms of regular pay slowed, with the latest figure showing at 4.5%, down from 4.6%. Regular pay growth in finance and business services held steady in this latest period at 3.0%, while total earnings growth stalled sightly at 2.6% down from 2.9%. Earnings growth in finance is the weakest of all the sub-sectors. Public sector growth has also slowed. The figures show both regular and total earnings to be 6.0% down from 6.1% respectively. 

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Growth in average weekly earnings continues to slow, according to the latest figures for June 2025 from the Office for National Statistics (ONS). While regular earnings growth (excluding bonuses) held steady for the whole economy at 5.0%, that for the private sector is down slightly from 4.9% to 4.8%. Meanwhile, total earnings growth (which includes bonuses) slowed both across the economy as a whole and in the private sector. Figures for the former show growth of 4.6%, down from 5.0% the month before. The private sector figure for this measure is showing at 4.7%, also down from 5.0%.

In real terms (adjusted for CPIH inflation), regular earnings growth was 0.9% in the three months to June, down from 1.1% in March to May 2025. Real-terms total earnings growth was just 0.5%, down from 1.0% previously.

Private sector

Regular pay growth has slowed across most of the private sector. Wholesaling, retailing, hotels and restaurants continues to exhibit the strongest average growth in both regular pay and total pay (which includes bonuses) at 6.8% and 6.4% respectively but these are down from 7.2% and 7.0% in May.

In manufacturing, regular earnings grew by 4.6% in the three months to June and total earnings by 4.5%, compared to growth last month of 4.8% and 4.6% respectively. Earnings growth has also slowed in construction. The latest figures show growth of 4.2% in regular pay and 5.0% in total pay, whereas growth in these areas in May was 4.9% and 6.5%. Meanwhile, growth in regular earnings in finance and business services remained steady with growth of 3.1%, although total pay growth slowed from 3.4% in May to 2.9%.

Public sector

In contrast, the only area to show an upward trend since May was the public sector (excluding financial services) where both regular and total earnings grew by 6.1%, up from 5.9% and 5.8% last time.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Growth in average weekly earnings is down, according to the latest figures from the Office for National Statistics (ONS). Growth in regular pay, which excludes bonuses, for the whole economy in the year to the end of the latest rolling three-month period - May 2025 - was 5.0%, down from 5.3% in April. Meanwhile, growth in total pay, including bonuses, was also showing at 5.0%, this time down from 5.4%. Adjusted for inflation, regular earnings grew by just 1.1% and total earnings by 1.0%, using the CPIH measure, which is the ONS’ lead estimate for increases in the cost of living. These are down from 1.5% on both measures previously.

Across the private sector, regular earnings grew by 4.9% in the latest period, down from 5.2% in the previous one. Total pay is showing at the same percentage, but this is also down, from 5.3% in April. Within the private sector, average earnings are still growing relatively strongly in retail and hospitality, at 7.1% on the regular measure and 6.8% on the total one, though again both are down, from 7.8% and 7.7% respectively last month.

In most other sub-sectors, earnings growth is a little weaker than in retail. Construction is showing 4.9% on regular earnings growth and 6.5% on total earnings. The respective figures for manufacturing are 4.8% and 4.5%, both down from 5.2%. Finance and business services is showing the weakest growth of all, at just 3.1% on regular earnings and 3.4% on total earnings. These were 3.3% and 3.9% respectively in April.

Meanwhile, across the public sector (excluding financial services), earnings growth remains relatively buoyant, at 5.9% on both measures, though down a little from last month, when both were 6.0%. Bonuses are not a significant feature of public sector pay and this explains the lack of variation between regular and total earnings growth here.

Earnings growth remains ahead of increases in basic pay, our median for which is showing at 3.4%. However, the gap, sometimes referred to as earnings drift, is narrowing. Drift reflects the extent to which employees receive extra payments, such as progression, promotions, shift or overtime, in addition to basic pay. Its prevalence is a sign of economic health, particularly from the point of view of employees. 

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Average weekly earnings (AWE) grew a little more slowly in the year to April, according to the latest figures in this series from the Office for National Statistics (ONS). This is the second month in a row in which the headline earnings growth figures showed a fall. Across the whole economy, regular earnings growth, which excludes bonuses, was 5.2% in the year to the rolling quarter ending April 2025, down from 5.5% previously. Total earnings growth, including bonuses, was 5.3%, down from 5.6% the month before. 

The ONS said that while earnings growth is lower it is still ‘relatively strong’. In part this reflects the fact that a significant gap still exists between basic pay increases, the median for which is 3.2% according to our monitoring, and the AWE. The difference, sometimes referred to as ‘earnings drift’, is largely due to the additional elements captured by the average earnings figures, which, as ‘earnings’, also comprise progression, overtime and shift pay, as well as bonuses in the total earnings series. There is also often a workforce composition effect on the AWE figures, something that does not arise with basic pay awards. 

The ONS comment also reflects the fact that real-terms earnings growth remains positive. This was showing at 1.4% across the whole economy for regular pay, and 1.5% for total pay, for the same period as indicated above. These figures are adjusted for inflation by the ONS according to its headline measure for increases in the cost of living, the Consumer Prices Index including owner occupiers’ housing costs (CPIH). 

The only sector in which average earnings growth increased was the joint largest in employment terms, wholesaling, retailing, hotels and restaurants, which comprises 22% of employment (finance and business services also comprises 22%). Here, regular earnings grew by 7.7%, up from 7.2% in the previous rolling quarter, ending March, and total earnings grew by 7.5%, up from 6.7% previously. This was also the strongest earnings growth of any sector, mainly a result of the impact on this lower-paying sector of the April uplift in the National Living Wage, which rose by 6.7% with effect from 1 April.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.

Growth in average earnings dropped back a little in the latest figures from the Office for National Statistics (ONS). These indicate that regular pay, which excludes bonuses, increased by 5.6% in the period from January to March 2025, compared with the same period a year ago. This is down on the previous rolling three-month average, for December 2024 to February 2025, when it was 5.9%. Meanwhile total pay, which includes bonuses, was showing at 5.5%, also down, from 5.7% previously. In real terms, adjusted using CPIH inflation, regular pay growth was 1.8% and total average weekly earnings rose by 1.7%. These figures are also down, from 2.1% and 2.0% respectively.

Figures correct at time of writing. The ONS sometimes publishes revisions to its Average Weekly Earnings data series; for the most up-to-date figures see its latest and previous releases on the ONS website.