New research conducted by UK trading platform CMC Markets reveals the UK industries that have had the biggest increase in wages. By analysing the latest release from the Office for National Statistics (ONS) and featuring results from ONS’ Wages and Salaries Survey since January 2000, the Mining and Quarrying industry is top of the table.
Industry Wage Increases in More Detail
1. Mining & Quarrying Industry
The biggest increase in wages between January 2022 and January 2023 was in the Mining and Quarrying industry, with average weekly earnings at £1,203 in January 2022 but rising to £1,382 in January 2023, an overall increase of 12.95%.
There was also a 13.82% increase in weekly earnings over the last 5 years.
2. Administrative & Support Service Activities Industry
Weekly earnings in the industry increased from £490 to £561 between January 2022 and January 2023, which is a percentage increase of 12.66%. The industry also saw a rise of 26.56% in five years.
3. Professional, Scientific & Technical Activities Industry
Between January 2022 and January 2023, the average weekly earnings in the industry increased from £854 to £940, a percentage change of 9.15%. The study also found the five-year increase to be 27.87%, the highest in the top ten.
4. Manufacturing Industry for Chemicals & Man-made Fibres
Average weekly earnings increased from £817 in January 2022 to £888 in January 2023, a percentage increase of 8%. The five-year increase in wages in the industry was also 16.67%.
5. Education Industry
This industry has seen weekly earnings rise from £488 in January 2022 to £527 in January 2023, an increase of 7.4%. Over the past five years, average weekly earnings have also risen 17.27%.
|#||Industry||Jan 2023 Average Weekly Earnings||Jan 2022 Average Weekly Earnings||1 Year Change||5 Year Change|
|1||Mining & Quarrying||£1,382||£1,203||12.95%||13.82%|
|2||Administrative & Support Service Activities||£561||£490||12.66%||26.56%|
|3||Professional, Scientific & Technical Activities||£940||£854||9.15%||27.87%|
|4||Manufacturing – Chemicals & Man-made Fibres||£888||£817||8.00%||16.67%|
|6||Manufacturing – Basic Metals & Metal Products||£663||£619||6.64%||15.08%|
|7||Manufacturing – Engineering & Allied Industries||£770||£720||6.49%||9.48%|
|8||Electricity, Gas & Water Supply||£805||£756||6.09%||16.65%|
|10||Information & Communication||£1,075||£1,016||5.49%||21.40%|