- Home
- Publications
- NIESR Wage Tracker – August 2020
NIESR Wage Tracker – August 2020
Pub. Date
11 August, 2020
Pub. Type
Pay Growth Turns Negative
Main points
- According to new ONS statistics published this morning, average weekly earnings, excluding bonuses, grew at an annual rate of -0.2 per cent in the three months to June, a fall of 0.8 per cent in real terms. When bonuses are included, total pay fell at an annual rate of 1.2 per cent in the three months to June.
- More up to data information from HMRC’s real time information indicates that median pay rose by £34 per month in July and was now £75 higher than the trough in April. Employment fell by 740 thousand between February and July.
- There continues to be a disparity between pay growth in the public and private sectors. Regular annual pay growth fell by 1.2 per cent in the private sector and rose by 4.1 per cent in the public sector in the three months to June. The difference partly reflects greater use of furloughing in the private sector.
- Average earnings are expected to recover slightly in the short term as employees return from furlough, with average earnings excluding bonuses forecast to grow at an annual rate of 0.2 per cent in the three months to September.
“Average pay in the private sector levelled off in May and June after falling sharply in March and April. It will pick up in the short term as workers return from furlough. But pay will weaken again in the second half of the year when unemployment is set to rise sharply”.
Garry Young, Deputy Director, NIESR
Related Blog Posts
Blog
Breaking Down the Different Types of Pension in the UK
Robyn Smith
Adrian Pabst
25 Mar 2024
6 min read
Blog
What Are the Implications of the Rising National Minimum Wage and National Living Wage Rates?
Ekaterina Aleynikova
Adrian Pabst
19 Mar 2024
5 min read
Blog
How Changes in Migration Policy Could Boost Scotland’s Economy
Max Mosley
Ekaterina Aleynikova
18 Dec 2023
3 min read
Related Projects
Related News
news
Press Release: Compositional effects push up average weekly earnings at the end of 2020
26 Jan 2021
2 min read
news
Press Release: 2020 shaping up to be the worst year for total pay growth since 2009
15 Dec 2020
2 min read
Related Publications
publication
Pay-Setting Among Employers in the Agriculture, Cleaning, Hospitality and Retail Sectors
11 Mar 2024
Research Report
Related events
Improving the Recruitment of Older Workers
The UK job market is currently going through dramatic changes, especially due to the impacts of Covid-19 and Brexit, with reports of shortages in many sectors. In addition to giving...
09:00 to 10:30
30 September, 2021