UK Average Earnings ex-Bonus rose 7.8% 3M YoY in August, as expected

Wage inflation in the United Kingdom (UK), as measured by the change in the Average Earnings Excluding Bonus, rose 7.8% 3M YoY in August, as against a 7.9% increase registered in July, the partial labor data released by the Office for National Statistics (NBS) showed on Tuesday. The market expectation was for a 7.8% increase.

Average Earnings Including Bonus rose 8.1% in the same period, at a slightly weaker pace than analysts' estimate of 8.3%. The August increase in pay growth was of 8.5%.

In September, 11,000 fewer people were in payrolled employment when compared with that in August.

The ONS delayed the release of employment data by a week to improve the quality of the data, wage data was released as planned.