New research has identified the UK industries with the highest wage increases, with the textile, leather, and clothing manufacturing sector leading the way.
The study, conducted with assistance from the global fintech group Plus500 analysed the latest release from the Office for National Statistics, featuring results from their Wages and Salaries Survey, and compared the percentage increase in weekly earnings from December 2022 to December 2023.
It found that the manufacturing of textiles, leather and clothing industry has seen the biggest wage increase in one year. In December 2022, average weekly earnings sat at £489.18 for the industry, which went up to £549.41 in December 2023. This is an increase of 12.31%, the highest of any industry.
The agriculture, forestry and fishing industry takes second on the list. Weekly earnings in the industry increased from £462.40 to £514.45 between December 2022 and December 2023, which is a percentage increase of 11.26%.
Following closely behind in third is the real estate activities industry. Between December 2022 and December 2023, the average weekly earnings in the industry increased from £632.48 to £703.64, a percentage change of 11.25%.
Taking fourth place on the list is the accommodation and food service activities industry. Average weekly earnings increased from £296.12 in December 2022 to £325.71 in December 2023, a percentage increase of 9.99%.
Rounding out the top five is the manufacturing of basic metals and metal products industry, which has seen weekly earnings rise from £700.15 in December 2022 to £765.37 in December 2023, an increase of 9.31%.
Leave a Comment