Recent analysis reveals significant wage hikes across various UK industries.
- Mining and Quarrying lead with a remarkable 12.95% increase in one year.
- Administrative and Support Services saw a 12.66% rise in average weekly earnings.
- Professional, Scientific & Technical Activities recorded a 9.15% growth.
- The Education sector experienced a 7.4% increase in wages over one year.
In recent research by UK Trading platform CMC Markets, the Mining and Quarrying industry emerged as the leader in wage increases. The sector witnessed a substantial rise in average weekly earnings, from £1,203 in January 2022 to £1,382 in January 2023, marking a 12.95% increase. Over five years, the industry’s wages grew by 13.82%. This trend highlights a strong economic boost within this industry.
The Administrative and Support Service Activities sector also showed impressive wage growth, with earnings climbing from £490 to £561 within a year, reaching a 12.66% increase. Over a span of five years, wages in this field have surged by 26.56%, reflecting its upward trajectory amidst other service-based industries.
Ranked third, the Professional, Scientific & Technical Activities industry experienced a rise in average weekly wages from £854 to £940, translating to a 9.15% increase over one year. Notably, this sector saw the highest five-year increase at 27.87%, underscoring its sustained growth and demand for skilled professionals.
The Manufacturing industry, specifically in Chemicals and Man-made Fibres, saw its average weekly earnings grow from £817 to £888, an 8% increase in the span of a year. Over the past five years, wages rose by 16.67%</strong%, signaling steady growth and resilience in this sector, despite broader manufacturing challenges.
The Education sector experienced a moderate increase in wages, with average earnings rising from £488 to £527, marking a 7.4% rise over one year. Over the last five years, wages in education have increased by 17.27%, reflecting ongoing investment and reforms aimed at improving pay in this critical area.
The study offers a clear view of economic progression and wage growth trends across key UK industries.