Pay
(asked on 15th October 2024) - View Source
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of reports of slowing wage growth.
This question was answered on 29th October 2024
The Office for National Statistics (ONS) measure of whole economy total pay growth was 3.8% in the three months to August 2024, having fallen from 8.0% in the three months to August 2023. Whole economy regular pay growth (which excludes bonus payments) was 4.9% in the three months to August 2024, having fallen from 7.9% in the three months to August 2023.
Real total and regular pay growth (adjusted for Consumer Price Inflation) remained positive in the three months to August 2024 at 1.7% and 2.6% respectively.