WAGES are still rising for millions of workers across the UK.
Official figures released today by the Office for National Statistics (ONS) have revealed that pay is still growing at its fastest rate on record.
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The figures reveal that regular pay, excluding bonuses, stood at 7.8% in June to August this year.
This is similar to recent periods and one of the highest regular annual growth rates since comparable records began in 2001.
Growth in employees’ average total pay, which included bonuses, was 8.1% in June to August, this is affected by the NHS and civil service one-off payments made in June, July and August 2023.
Annual average regular pay growth for the public sector was 6.8% in June to August 2023 and is the highest regular annual growth rate since 2001.
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For the private sector this was 8% and one of the largest annual growth rates since the Coronavirus pandemic.
The finance and business services sector saw the largest annual growth rate at 9.6% and this was followed by the manufacturing sector at 8%.
This is one of the highest annual regular growth rates for the manufacturing sector since 2001.
The average weekly earnings for total pay were estimated at around £661 and for regular pay were £619 in August 2023, showing a steady increase.
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The annual growth for regular pay was 7.8% (excluding bonuses) in June to August 2023.
The annual growth in employees’ average total pay (including bonuses was 8.1% in June to August 2023.
