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2025-12-16 15:37:57
[UK Wage Growth Excluding Bonuses Slightly Exceeds Expectations] ⑴ In the three months to October, UK regular weekly wages excluding bonuses rose 4.6% year-on-year to £687, a slowdown from the slightly revised 4.7% growth, but higher than the market expectation of 4.5%. ⑵ Private sector wage growth slowed to 3.5% from 4.2%, the lowest level since the end of 2020. ⑶ Public sector wage growth accelerated to 7.6% from 6.6%, the largest increase on record. ⑷ By industry, the fastest year-on-year wage growth was in wholesale, retail, hospitality and catering (5.5%), followed by services (4.7%), manufacturing (4.5%), construction (2.9%), and financial and business services (2.3%). ⑸ After adjusting for inflation, real wage growth was 0.5%, still the weakest increase since 2023.
