18 May 2023
Pay growth continues upwards, driven by growth in regular pay. Inflation, however, remains very high, eroding the ‘real’ value of wages.
Average regular pay (excluding bonuses) increased by 6.7% year-on year in the period between January 2023 to March 2023. This is very strong by historic standards and is up 0.1 percentage point compared to the previous 3-month period.
Average pay, in...