Total pay, including bonuses, increased by 1.4% in Great Britain between October-December 2015 and October-December 2016, according to the Office for National Statistics (ONS).
Its UK labour market: February 2017 report also found that in nominal terms, which have not been adjusted for price inflation, average regular pay for employees in Great Britain increased from £466 a week in December 2015 to £477 a week in December 2016, before tax and other deductions.
Average total pay, including bonuses, for December 2016 was £507 a week for employees in Great Britain, compared to £498 a week in December 2015.
In real terms, regular pay, excluding bonuses, increased by 1.4% in Great Britain between October-December 2015 and October-December 2016.
Between October-December 2015 and October-December 2016, in nominal terms, regular pay and total pay increased by 2.6%. These are slightly lower growth rates compared to September-November 2015 and September-November 2016, when regular pay grew by 2.7% and total pay increased by 2.8%.
Total pay in nominal terms increased by 62.8% between January 2000 and December 2016, rising from £312 a week to £507 a week. Over the same time period, the Consumer Price Index increased by 41.7%.
Doug Monro, co-founder at Adzuna, said: “The ONS figures suggest that average earnings are starting to rise, but our data suggests that it’s not quite time to pop the champagne corks on that front as wage growth has been volatile of late. In short, employment prospects are as healthy as ever, but wage expectations may have to be a bit more modest than previously.”
