UK Wage Growth Remains Strong At 3.8%

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The average annual earnings in the United Kingdom, continued to increase at 3.8% (including bonuses). This rise continues a trend of wages outperforming inflation. The current CPI inflation rate is at 1.7%, just below the Bank of England’s target of 2% inflation.

In September 2019, unemployment rose by 22,000 but this is due to uncertainty in the market and still remains exceptionally low at 3.8%. Furthermore, the Treasury has recently announced an aim to increase the living wage to £10.50 within the next 5 years.

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