United Kingdom GBP

United Kingdom Average Earnings excl. Bonus

Impact:
Low
Source: Office for National Statistics

Latest Release:

Date:
Surprise:
0.2%
Actual:
4.2%
Forecast: 4%
Previous/Revision:
4.2%
Period: Apr
What Does It Measure?
The United Kingdom Average Earnings excluding Bonuses measures the change in income for workers in the UK, excluding any additional compensation like bonuses. This indicator primarily focuses on wage growth and employment conditions, assessing key economic components such as consumer spending power and inflationary pressures.
Frequency
The report is released on a monthly basis and it typically provides final figures, with the data for each month published around the middle of the following month.
Why Do Traders Care?
Traders closely monitor this indicator as it directly influences consumer spending, which is a crucial driver of economic growth. Higher-than-expected earnings can strengthen the British Pound (GBP) and support equities, while disappointing results may lead to bearish movement in both the currency and stock markets due to concerns over consumer spending.
What Is It Derived From?
This earnings metric is derived from a survey of employers across various sectors in the UK, capturing data about the wages paid to employees. The calculation includes responses that reflect all employee earnings while excluding bonuses, and it adheres to standard statistical methodologies to ensure accuracy and representativeness.
Description
This report is particularly relevant in the context of inflation, as wage growth that outpaces inflation can indicate a strengthening economy, while stagnant or declining earnings can signal potential economic weakness. The earnings data is reported as a year-over-year (YoY) percentage change, which helps to identify long-term trends and mitigate seasonal volatility.
Additional Notes
The Average Earnings excluding Bonuses indicator serves as a lagging measure, providing insights into past economic conditions rather than predicting future performance. It is often compared with related indicators such as inflation rates, and it plays a critical role in assessing the overall health of the labor market within the UK economy.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for GBP, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Jun 14, 2022
4.2%
 4%
4.2%
 0.2%
May 17, 2022
4.2%
 4.1%
4.1%
 0.1%
Apr 12, 2022
4%
 4%
3.8%
Mar 15, 2022
3.8%
 3.7%
3.7%
 0.1%
Feb 15, 2022
3.7%
 3.6%
3.8%
 0.1%
Jan 18, 2022
3.8%
 3.8%
4.3%
Dec 14, 2021
4.3%
 4%
5%
 0.3%
Nov 16, 2021
4.9%
 5%
6%
 -0.1%
Oct 12, 2021
6%
 6%
6.8%
Sep 14, 2021
6.8%
 6.8%
7.3%
Aug 17, 2021
7.4%
 7.4%
6.6%
Jul 15, 2021
6.6%
 6.6%
5.6%
Jun 15, 2021
5.6%
 5.3%
4.6%
 0.3%
May 18, 2021
4.6%
 4.6%
4.4%
Apr 20, 2021
4.4%
 4.2%
4.3%
 0.2%
Mar 23, 2021
4.2%
 4.4%
4.1%
 -0.2%
Feb 23, 2021
4.1%
 4%
3.6%
 0.1%
Jan 26, 2021
3.6%
 3.2%
2.8%
0.4%
Dec 15, 2020
2.8%
 2.6%
1.9%
0.2%
Nov 10, 2020
1.9%
 1.5%
0.9%
0.4%
Oct 13, 2020
0.8%
 0.6%
0.2%
0.2%
Sep 15, 2020
0.2%
 -0.2%
-0.2%
0.4%
Aug 11, 2020
-0.2%
 -0.1%
0.7%
 -0.1%
Jul 16, 2020
0.7%
 0.5%
1.7%
0.2%
Jun 16, 2020
1.7%
 1.9%
2.7%
-0.2%
May 19, 2020
2.7%
 2.6%
2.9%
0.1%
Apr 21, 2020
2.9%
 3%
3.1%
-0.1%
Mar 17, 2020
3.1%
 3.2%
3.2%
-0.1%
Feb 18, 2020
3.2%
 3.3%
3.4%
 -0.1%
Jan 21, 2020
3.4%
 3.4%
3.5%
Dec 17, 2019
3.5%
 3.4%
3.6%
0.1%
Nov 12, 2019
3.6%
 3.8%
3.8%
-0.2%
Oct 15, 2019
3.8%
 3.7%
3.9%
 0.1%
Sep 10, 2019
3.8%
 3.8%
3.9%
Aug 13, 2019
3.9%
 3.8%
3.6%
0.1%
Jul 16, 2019
3.6%
 3.5%
3.4%
0.1%
Jun 11, 2019
3.4%
 3.1%
3.3%
0.3%
May 14, 2019
3.3%
 3.3%
3.4%
Apr 16, 2019
3.4%
 3.4%
3.5%
Mar 19, 2019
3.4%
 3.4%
3.4%
Feb 19, 2019
3.4%
 3.4%
3.4%
Jan 22, 2019
3.3%
 3.3%
3.3%
Dec 11, 2018
3.3%
 3.2%
3.2%
 0.1%
Nov 13, 2018
3.2%
 3.1%
3.1%
0.1%
Oct 16, 2018
3.1%
 2.9%
2.9%
0.2%
Sep 11, 2018
2.9%
 2.8%
2.7%
0.1%
Aug 14, 2018
2.7%
 2.7%
2.8%
Jul 17, 2018
2.7%
 2.7%
2.8%
Jun 12, 2018
2.8%
 2.9%
2.9%
 -0.1%
May 15, 2018
2.9%
 2.9%
2.8%
Apr 17, 2018
2.8%
 2.8%
2.6%
Mar 21, 2018
2.6%
 2.6%
2.5%
Feb 21, 2018
2.5%
 2.4%
2.3%
 0.1%
Jan 24, 2018
2.4%
 2.3%
2.3%
 0.1%
Dec 13, 2017
2.3%
 2.2%
2.2%
 0.1%
Nov 15, 2017
2.2%
 2.2%
2.2%
Oct 18, 2017
2.1%
 2%
2.2%
 0.1%
Sep 13, 2017
2.1%
 2.2%
2.1%
 -0.1%
Aug 16, 2017
2.1%
 2%
2%
 0.1%
Jul 12, 2017
2%
 1.9%
1.8%
 0.1%
Jun 14, 2017
1.7%
 2%
1.8%
-0.3%
May 17, 2017
2.1%
 2.2%
2.2%
 -0.1%
Apr 12, 2017
2.2%
 2.1%
2.4%
 0.1%
Mar 15, 2017
2.3%
 2.5%
2.6%
-0.2%
Feb 15, 2017
2.6%
 2.7%
2.7%
 -0.1%
Jan 18, 2017
2.7%
 2.6%
2.6%
 0.1%
Dec 14, 2016
2.6%
 2.5%
2.4%
 0.1%
Nov 16, 2016
2.4%
 2.4%
2.3%
Oct 19, 2016
2.3%
 2.1%
2.2%
 0.2%
Sep 14, 2016
2.1%
 2.2%
2.3%
 -0.1%
Aug 17, 2016
2.3%
 2.3%
2.2%
Jul 20, 2016
2.2%
 2.3%
2.3%
 -0.1%
Jun 15, 2016
2.3%
 2.1%
2.2%
 0.2%
May 18, 2016
2.1%
 2.3%
2.2%
 -0.2%
Apr 20, 2016
2.2%
 2.2%
2.2%
Mar 16, 2016
2.2%
 2.1%
2%
 0.1%
Feb 17, 2016
2%
 1.8%
1.9%
 0.2%
Jan 20, 2016
1.9%
 1.8%
2%
 0.1%
Dec 16, 2015
2%
 2.3%
2.4%
-0.3%
Nov 11, 2015
2.5%
 2.7%
2.8%
-0.2%
Oct 14, 2015
2.8%
 3%
2.9%
-0.2%
Sep 16, 2015
2.9%
 2.9%
2.8%
Aug 12, 2015
2.8%
 2.8%
2.8%
Jul 15, 2015
2.8%
 3%
2.7%
-0.2%
Jun 17, 2015
2.7%
 2.5%
2.3%
0.2%
May 13, 2015
2.2%
 2.1%
1.9%
 0.1%