. It's a non-ministerial department which reports directly to Parliament . Every month the body publishes estimates of employment , unemployment, inactivity, average weekly earnings, vacancies and other labour market related statistics for the UK. The data that is published typically looks at the three months up to a specific month - for example the latest publication was for March to May. That obviously means that it does not predict the future. Below we explain how much wages are rising by and how it affects your money. How much are wages rising by? Wages are on the rise for millions of workers across the UK, according to data published this month. Growth in employees' average total pay, which included bonuses, was 6.9% and growth in regular pay, excluding bonuses, was 7.3% in the three months from March to May. It's the second consecutive month wages have risen at a record rate. Last month the ONS revealed growth in total pay was 6.5% and growth in regular pay was 7.2% in the three months from February to April. The fresh figures are good news for households who are battling rising costs due to high inflation. The UK's current rate of inflation remains high at 8.7% . But it's important to note that when pay doesn't rise at the same rate as inflation, it leaves people worse off in "real terms" - wages don't stretch as far because prices are higher. After taking inflation into account, average pay including bonuses fell by 1.2% in the year to March to May 2023, or 0.8% excluding bonuse){kind=link}
WAGES across the UK have been rising at their fastest rate on record, but workers will want to know how much by and how it affects them.
Official figures revealed that it is the second consecutive month wages have risen at a record rate.
Basic pay and other related data is published each month by the Office for National Statistics (ONS).
It’s a non-ministerial department which reports directly to Parliament.
Every month the body publishes estimates of employment, unemployment, inactivity, average weekly earnings, vacancies and other labour market related statistics for the UK.