Wages and Salaries in Britain
Average Earnings Index 3MoY (UK)
Earnings Back to the Highest Levels in Britain
Starts Tuesday, December 18, 2018 at 18:08
Updated Tuesday, December 11, 2018
Average earnings index kept growing last year and early this year in the UK, and it reached 2.8% in January and February. But, the increase in earnings stared to decelerate after that and it has been slowing throughout the year. The growth continued slowing until it fell to 2.4% as shown in August's report. But, it started increasing again and we saw numbers such as 2.6% in September and 2.7% in October. The report released in November showed that earnings jumped to 3.0% which is near the highest levels in the recent years. Please follow us for live coverage of this event and the impact it might have on the currency by experienced market analysts.
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About Average Earnings Index 3MoY (UK)
The average earnings index data shows the prices that British businesses and the UK Government pay for labor. This report also includes bonuses that employees receive. It is calculated and released by the UK Office for National Statistics. It is in the 3MoY format, which means that the average number of the last three months, as compared to the same period of the previous year. The data is presented as the change in the percentage of earnings between the two periods. This data is a late release because it is released 45 days after the month ends. Nonetheless, it is a leading indicator of consumer inflation CPI (consumer price index) since the higher the earnings are, the more likely the consumer is to spend. The CPI inflation is one of the main mandates of the Bank of England, so a positive number is good for the GBP.