MNI BRIEF: UK Wage Growth Mixed In September
MNI (LONDON) - UK average regular earnings ex-bonuses rose 4.8% in the three months to September 2024, the lowest level in just over two years, the Office for National Statistics said Tuesday. Including bonuses, wage growth sood at 4.3%, higher than both the previous month's read and the expectation of City economists.
The pick-up in total pay was affected by the civil service one-off payments made in July and August 2023, the ONS noted. Annual average regular earnings growth for the private sector was 4.8%, the same as the previous three- month period; growth was previously lower in the three months to February 2022.
“Growth in pay excluding bonuses eased again this month to its lowest rate in over two years. Pay growth including bonuses increased, but for recent periods these figures have been affected by last year’s one-off payments made to public sector workers, ONS director of economic statistics Liz McKeown said.