国家经济和社会研究所-英国月度工资跟踪：第三季度工资增长近8_，预计第四季度将增长7_（英）-2023.11-7页_308kb

NIESR Monthly Wage Tracker Summary

Q3 2023 wage growth averaged 7.9% including bonuses and 7.7% excluding, among the highest since records began in 2001. Inflation adjustment shows real growth at 1.3% and 1.4%, eroding household incomes. The labor market remains tight with stable unemployment at 4.2% and falling vacancies, supporting high wages. Quarterly forecasts for Q4 2023 anticipate continued wage growth easing slightly. Private and public sectors saw significant increases, while services wages drive inflation concerns. Data gaps highlight uncertainty.

Earnings excluding bonuses: 7.7% in Q3
Including bonuses: 7.9% in Q3
Private sector: 7.8%
Public sector: 7.3%
Annual inflation-adjusted real growth: 1.3% total economy, with private at 1.1% and public at 2.1%
Unemployment rate stable at 4.2%, vacancies decrease
Labor market tight, vacancy-to-unemployment ratio high
Q4 forecast: economy-wide regular pay growth expected at 6.9%, impacting overall pay and inflation