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UK weekly wages up year-on-year

Paloma Kubiak
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Paloma Kubiak

Average weekly earnings, excluding bonuses, increased by 2.2% in the three months to January compared with the same period the year before, official statistics reveal.

Average total pay, including bonuses, increased by 2.1% between November and January, the Office for National Statistics (ONS) said.

For January, the average pay, excluding bonuses, was £467 per week before tax and other deductions, up £10 from the £457 recorded a year earlier.

However, the figures exclude self-employed earnings and when adjusted for inflation, in real terms, earnings have increased by 2%.

Since records began in 2000, average total pay for employees has increased from £311 per week to £497 this year, an increase of 59.7%, higher than the Consumer Price Index at 38.4%.

Meanwhile, ONS figures revealed that UK unemployment fell to 1.68 million between November and January, 28,000 fewer than the previous quarter and 171,000 fewer than a year earlier.

There were 31.42 million people in work, 478,000 more than for a year earlier.