Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK earnings growth surged to the highest level since March 2008 in December, according to data published by the Office for National Statistics Tuesday. Statisticians warned, however, that the number is skewed by a fall in both the number and proportion of lower-paid jobs which had been postponed earlier in the year, although there was a strong rise in bonus payments also underpinning total pay.
Growth in average total pay (including bonuses) among employees for the three months October to December 2020 increased to 4.7%, and growth in regular pay (excluding bonuses) increased to 4.1%. Both were last higher in the months immediately prior to the global financial crisis, when they came in at 4.8% and 4.2% respectively.
Overall weekly real-terms pay packets in both total and regular forms hit record highs in December, although with the same caveats, both back above the GFC levels for the first time as well.
Source: ONS - Monthly Wages and Salaries Survey
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.