Free Trial

MNI DATA BRIEF: Earnings Growth At Record High, Base Effects

(MNI) LONDON
LONDON (MNI)

Regular pay rose by an annual rate of 5.6% in the three months to April (up from 4.3% in Q1), the biggest increase on record, with earnings flattered by easy 2020 comparisons, when the effects of the pandemic first wreaked havoc with the economy. Total earnings also increased by 5.6% (boosted by an 8.4% surge in the month of April), the biggest rise since March 2007, the Office for National Statistics said.

Bonuses increased by 9.0% in the latest three months, and by 32.1% in April, amid reports of signing-on incentives in certain areas of the economy. Real regular earnings increased by a record high of 4.4% from 3.3% in Q1, while real nominal earnings increased by 4.4%, the biggest rise since April of 2001. Approximately 1.5% of earnings growth is due to the compositional effect of earnings, with job growth over the spring concentrated in higher-paid roles.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

To read the full story

Close

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.