Labour Research (October 2005)

Key economic indicators

Key economic indicators

Earnings and pay

% annual rise Whole economy* Manufacturing* Services* Private sector* Public sector* LRD average pay deals**

July 2004 (r) 3.2% 3.7% 2.9% 3.1% 3.7% 3.0%

August 4.1% 3.3% 4.0% 4.0% 4.5% 3.0%

September 3.9% 3.1% 3.9% 3.8% 4.4% 3.0%

October 4.2% 3.4% 4.3% 4.1% 4.8% 3.0%

November 4.6% 2.9% 4.7% 4.6% 4.7% 3.2%

December 4.3% 3.7% 4.4% 4.3% 4.4% 3.5%

January 2005 4.0% 3.1% 4.0% 3.9% 4.7% 3.3%

February 5.7% 3.7% 6.3% 5.9% 4.6% 3.3%

March 3.9% 3.3% 4.4% 3.9% 4.3% 3.4%

April 4.3% 3.6% 4.5% 4.1% 5.0% 3.5%

May (r) 4.1% 2.0% 4.6% 3.3% 7.7% 3.5%

June (r) 4.0% 2.9% 4.2% 3.9% 4.3% 3.5%

July (p) 4.4% 3.5% 4.7% 4.4% 4.4% 3.4%

Headline rate for July*** 4.2% 2.8% 4.5% 3.9% 5.5%

* Annual increase in average weekly earnings in Great Britain, seasonally adjusted, as monitored by National Statistics.

** The midpoint of pay settlements for the latest three months as monitored on the Labour Research Department's Payline database.

*** The average of the earnings increase figures for the latest three months compared with a year earlier.

(r) revised (p) provisional

Retail prices

Retail prices index % annual increase Consumer prices index % increase

June 2004 186.8 3.0% 1.6%

July 186.8 3.0% 1.4%

August 187.4 3.2% 1.3%

September 188.1 3.1% 1.1%

October 188.6 3.3% 1.2%

November 189.0 3.4% 1.5%

December 189.9 3.5% 1.6%

January 2005 188.9 3.2% 1.6%

February 189.6 3.2% 1.6%

March 190.5 3.2% 1.9%

April 191.6 3.2% 1.9%

May 192.0 2.9% 1.9%

June 192.2 2.9% 2.0%

July 192.2 2.9% 2.3%

August 192.6 2.8% 2.4%

* Jan 1987=100

Source: National Statistics

Full-time average weekly earnings by occupation

All workers £530.10

All male £584.60

All female £441.20

Managers £794.00

Professionals £705.40

Associate professionals* £565.40

Admin & secretarial £364.60

Skilled/craft £446.40

Services** £304.10

Sales £306.00

Operatives £400.90

Other manual jobs*** £322.80

* Associate professionals include technicians, nurses, police, firefighters, media/PR workers, train drivers, legal and finance workers and sales reps.

** Services means personal service occupations such as care workers, travel assistants, hairdressers, caretakers.

*** Other manual jobs refers to "elementary" occupations including farm workers, labourers, dockers, postal workers, porters, waiters, cleaners.

Source: Annual Survey of Hours and Earnings 2004 (uprated)


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