UK Wage Growth (Total Pay)

## What this measures

Growth in average weekly earnings, including bonuses, over the latest three months compared with a year earlier.

## Why it matters

Wage growth is the Bank of England's main worry about persistent inflation.

## How to read it

Compare with CPI inflation; the difference is the real pay change (uk.awe.real_total_growth). Bonuses make total pay lumpier than regular pay.

## What it does not say

It covers employees only, not the self-employed, and shifts in the mix of jobs move averages.

## Source

Office for National Statistics, series KAC3 (dataset LMS), "Whole Economy: Average Weekly Earnings: Total pay: % change, 3 month average on same period a year earlier". Palanor reads it from the ONS website's time-series data every day.

Source: Office for National Statistics licensed under the Open Government Licence v.3.0.