Recent research conducted by Journo Research in collaboration with global fintech group Plus500 has shed light on the UK industries experiencing the most substantial wage increases.

The study, which analysed data from the Office for National Statistics’ Wages and Salaries Survey, compared weekly earnings between December 2022 and December 2023 to identify sectors with the highest percentage growth.

Topping the list is the manufacturing of textiles, leather, and clothing industry, which saw a remarkable increase in wages.

In December 2022, average weekly earnings in this sector stood at £489.18, soaring to £549.41 by December 2023, marking a notable 12.31 percent rise—the highest among all industries examined.

Following closely behind is the agriculture, forestry, and fishing industry, securing the second spot. With earnings climbing from £462.40 to £514.45 over the same period, this sector experienced an 11.26 percent increase in wages.

The real estate activities industry emerged third on the list, witnessing a significant boost in weekly earnings from £632.48 to £703.64, translating to an 11.25 percent rise between December 2022 and December 2023.

Other industries making notable strides include the accommodation and food service activities industry, where weekly earnings escalated from £296.12 to £325.71, marking a 9.99 percent increase, and the manufacturing of basic metals and metal products sector, which saw wages rise from £700.15 to £765.37—a 9.31 percent growth.

The top ten industries with the biggest wage increases:

  1. Manufacturing – Textiles, Leather, and Clothing: £489.18 to £549.41 (12.31%)
  2. Agriculture, Forestry, and Fishing: £462.40 to £514.45 (11.26%)
  3. Real Estate Activities: £632.48 to £703.64 (11.25%)
  4. Accommodation and Food Service Activities: £296.12 to £325.71 (9.99%)
  5. Manufacturing – Basic Metals and Metal Products: £700.15 to £765.37 (9.31%)
  6. Information and Communication: £1,070.36 to £1,166.77 (9.01%)
  7. Administrative and Support Service Activities: £541.64 to £585.39 (8.08%)
  8. Retail Trade and Repairs: £379.09 to £405.17 (6.88%)
  9. Public Administration: £683.90 to £728.29 (6.49%)
  10. Financial & Insurance Activities: £1,489.82 to £1,583.41 (6.28%)

This analysis underscores the dynamic shifts occurring within the UK labour market, with certain sectors experiencing robust growth in wages over the past year. As economic conditions continue to evolve, monitoring these trends will be crucial for policymakers and industry stakeholders alike.

 

 

 

 

Amelia Brand
Amelia Brand

Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.