Average earnings forecast United Kingdom (UK) 2017-2023

In 2020 it is predicted that earnings in the United Kingdom will increase by 3 percent compared with the previous year. Earnings are expected to increase by 3.1 percent in 2021 and 2022 and 3.3 percent by 2023. Official figures also support these positive forecasts, In April 2019 for example, wages in the United Kingdom grew by 3.8 percent, a two percent increase compared with April 2017 when wages only grew by 1.8 percent.

Millennials hit hardest by recession
While the recent economic news regarding wage growth is encouraging, wages are still recovering from the great recession of 2008. For all age groups it is estimated that they are earning an average of 3.2 percent less than they would have in 2008, with 30-39-year old’s seeing their annual earnings declining by 7.2 percent.

Average earnings almost 30 thousand pounds
In 2017 full-time employees in the United Kingdom earned an average of 29.57 thousand British pounds a year, an increase of approximately 19 thousand pounds compared with 2000. Compared with other European countries, the UK had the ninthhighest average annual wage.

Forecasted percentage change on a year earlier of average earnings in the United Kingdom (UK) from 2017 to 2023

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Release date

October 2018


United Kingdom

Survey time period

October 2018

Supplementary notes

* Outturn.

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Statistics on "UK economic and financial indicators post Brexit referendum"

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