Labour Research (September 2006)

Key economic indicators

Key economic indicators

Earnings and pay

Whole economy Manufacturing Services Private sector Public sector LRD pay deals*

June 2005 3.7% 2.9% 3.9% 3.6% 4.5% 3.3%

July 4.5% 3.4% 4.9% 4.6% 4.4% 3.4%

August 4.0% 4.3% 4.0% 4.0% 4.3% 3.1%

September 3.8% 4.6% 3.5% 3.7% 4.0% 3.0%

October 3.1% 4.4% 2.8% 2.9% 4.0% 3.0%

November 3.4% 4.4% 3.3% 3.1% 4.4% 3.0%

December 4.2% 4.4% 3.9% 4.0% 4.7% 3.2%

January 2006 3.0% 5.0% 2.9% 3.0% 4.2% 3.0%

February 5.0% 5.2% 5.1% 5.3% 4.1% 3.0%

March 4.4% 4.4% 4.5% 4.4% 4.4% 3.0%

April (r) 3.6% 6.1% 3.2% 3.7% 2.9% 3.0%

May (r) 4.3% 5.8% 4.3% 4.7% 3.5% 3.0%

June (p) 5.0% 5.8% 4.9% 5.3% 3.8% 3.0%

Headline rate for June** 4.3% 5.9% 4.1% 4.6% 3.4%

All columns except "LRD pay deals" show annual percentage rises in average weekly earnings in Great Britain, seasonally adjusted, as monitored by National Statistics.

* The midpoint percentage increase in minimum basic pay among pay settlements reached in the latest three months, as monitored on the Labour Research Department's Payline database.

** The average of the earnings increase figures for the latest three months compared with a year earlier.

(r) revised (p) provisional

Retail prices

Retail prices index* Annual increase in RPI Annual increase in consumer prices index

March 2005 190.5 3.2% 1.9%

April 191.6 3.2% 1.9%

May 192.0 2.9% 1.9%

June 192.2 2.9% 2.0%

July 192.2 2.9% 2.3%

August 192.6 2.8% 2.4%

September 193.1 2.7% 2.5%

October 193.3 2.5% 2.3%

November 193.6 2.4% 2.1%

December 194.1 2.2% 1.9%

January 2006 193.4 2.4% 1.9%

February 194.2 2.4% 2.0%

March 195.0 2.4% 1.8%

April 196.5 2.6% 2.0%

May 197.7 3.0% 2.2%

June 198.5 3.3% 2.5%

July 198.5 3.3% 2.4%

Source: National Statistics

Full-time average weekly earnings by occupation

All workers 543.50

All male 598.00

All female 458.30

Managers 817.50

Professionals 743.70

Associate professionals* 576.10

Admin & secretarial 370.40

Skilled/craft 454.20

Services** 315.70

Sales 298.50

Operatives 415.80

Other manual jobs*** 330.10

* Associate professionals include technicians, nurses, police, firefighters, media/PR workers, train drivers, legal and finance workers and sales reps.

** Services means personal service occupations such as care workers, travel assistants, hairdressers, caretakers.

*** Other manual jobs refers to "elementary" occupations including farm workers, labourers, dockers, postal workers, porters, waiters, cleaners.

Source: Annual Survey of Hours and Earnings 2005 (uprated)


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