The UK Industries seeing the biggest increase in wages
New research has revealed the UK industries that have had the biggest increase in wages, with mining and quarrying coming out on top.
The study by UK Trading platform CMC Markets analysed the latest release from the Office for National Statistics, featuring results from their Wages and Salaries Survey since January 2000.
It found that the mining and quarrying industry has seen the biggest wage increase in one year. In January 2022, average weekly earnings sat at £1,203 for the industry, which went up to £1,382 in January 2023, an increase of 12.95%. The industry also saw an increase in weekly earnings of 13.82% over the past five years.
The administrative and support service activities industry takes second on the list. 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.
Coming in third place is the 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.
Taking fourth place on the list is the manufacturing industry for chemicals and 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%.
Rounding out the top five is the education industry, which 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||Jan 2018 Average Weekly Earnings||1 Year Change||5 Year Change|
|1||Mining and Quarrying||£1,382||£1,203||£1,191||12.95%||13.82%|
|2||Administrative and Support Service Activities||£561||£490||£412||12.66%||26.56%|
|3||Professional, Scientific & Technical Activities||£940||£854||£678||9.15%||27.87%|
|4||Manufacturing – Chemicals and Man-made Fibres||£888||£817||£740||8.00%||16.67%|
|6||Manufacturing – Basic Metals and Metal Products||£663||£619||£563||6.64%||15.08%|
|7||Manufacturing – Engineering and Allied Industries||£770||£720||£697||6.49%||9.48%|
|8||Electricity, Gas and Water Supply||£805||£756||£671||6.09%||16.65%|
|10||Information and Communication||£1,075||£1,016||£845||5.49%||21.40%|
The study was conducted by CMC Markets, a UK-based financial services company.