Annual pay growth for May to July 2023 rises by 7.8%
SEPTEMBER 12, 2023
Annual pay growth , excluding bonuses, from May to July 2023 was 7.8%, according to data from the Office for National Statistics (ONS). Its latest labour market figures revealed that this was the same as the previous quarter, the highest regular annual growth rate since comparable records began in 2001, and in line with market expectations. Annual growth in employees’ average total pay including bonuses was 8.5%, due to NHS and Civil Service one-off payments made in June and July 2023.