UK Average Earnings including Bonus (3Mo/Yr)
UK Average Weekly Earnings including bonuses tracks annual growth in total employee pay in Great Britain, averaged over a three-month period.
Full explanation
This release shows how average weekly pay for employees in Great Britain is changing, including bonuses as well as regular wages. The 3Mo/Yr rate compares average total pay in the latest three-month period with the same three months a year earlier. It is part of the Office for National Statistics Average Weekly Earnings series, which is the lead monthly measure of pay per employee. Because it includes bonuses, it can move differently from regular pay when seasonal or one-off bonus payments are large.
Why traders watch it
Traders watch it because wage growth is a key input into UK inflation pressure, household spending capacity and Bank of England policy expectations. Faster pay growth can affect gilt yields and sterling if it changes expectations for interest rates.
Stronger vs weaker outcomes
A higher-than-expected reading may suggest firmer labour-cost pressure and potentially more persistent services inflation. A lower-than-expected reading may suggest cooling wage momentum or weaker labour-market conditions, depending on the wider labour-market release.
Typical volatility
High. Bonus timing, sector mix and revisions can distort the series, so it is usually read alongside regular pay, unemployment, employment and vacancies. The official ONS Average Weekly Earnings coverage is Great Britain rather than the whole UK.
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