Workplace Report January 2021

Pay and prices

Earnings growth continues

The picture for average weekly earnings is encouraging this month, with all sectors showing positive growth

Our analysis shows an across the board increase in November, but this is still based on reduced data.

In November, the median pay increase in collectively agreed settlements from LRD’s Payline database stayed consistent at 2.5%.

Official figures for average weekly earnings in October for regular pay rose to 3.5%. Public sector pay is stable at 4.2% and growth in the private sector is improving and now stands at 3.3%, driven by a 4.6% rise in finance and business services. Construction creeps into positive territory at 0.2%, while wholesale, retail, hotels and restaurants has shot up to 3.6%.