Average earnings growth rate rises to 3.3%

The rate of growth in total average weekly earnings across the whole economy rose to 3.3% in the year to October, up from 3.1% in the year to September and from 2.8% in the year to August. Average earnings growth was strong in all sectors of the economy other than in manufacturing, where it was just 2.0%.

Stronger bonus payments in the finance and business services sector, construction and the wider services sector, which includes communications and transport, lifted overall earnings in these sectors and this in turn lifted the whole economy figure. Lower bonus payments had previously held back overall pay growth, but this changed in October.

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