New research has revealed the UK industries to have benefitted from the biggest increase in wages. We are pleased to see the Administrative and Support Service activities taking a second place after 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 ยฃ1,203 for the industry, which went up to ยฃ1,382 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.
Administrative and Support Services show good growth in wages over the past five years
The Administrative and Support Service Activities industry takes second on the list. Weekly earnings in the industry increased from ยฃ490 to ยฃ561 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 ยฃ854 to ยฃ940, 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 ยฃ817 in January 2022 to ยฃ888 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 ยฃ488 in January 2022 to ยฃ527 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 | ยฃ1,382 | ยฃ1,203 | ยฃ1,191 | 12.95% | 13.82% |
| 2 | Administrative and Support Service Activities | ยฃ561 | ยฃ490 | ยฃ412 | 12.66% | 26.56% |
| 3 | Professional, Scientific & Technical Activities | ยฃ940 | ยฃ854 | ยฃ678 | 9.15% | 27.87% |
| 4 | Manufacturing – Chemicals and Man-made Fibres | ยฃ888 | ยฃ817 | ยฃ740 | 8.00% | 16.67% |
| 5 | Education | ยฃ527 | ยฃ488 | ยฃ436 | 7.40% | 17.27% |
| 6 | Manufacturing – Basic Metals and Metal Products | ยฃ663 | ยฃ619 | ยฃ563 | 6.64% | 15.08% |
| 7 | Manufacturing – Engineering and Allied Industries | ยฃ770 | ยฃ720 | ยฃ697 | 6.49% | 9.48% |
| 8 | Electricity, Gas and Water Supply | ยฃ805 | ยฃ756 | ยฃ671 | 6.09% | 16.65% |
| 9 | Other Manufacturing | ยฃ619 | ยฃ584 | ยฃ516 | 5.65% | 16.64% |
| 10 | Information and Communication | ยฃ1,075 | ยฃ1,016 | ยฃ845 | 5.49% | 21.40% |
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The study was conducted by CMC Markets, a UK-based financial services company that offers online trading in shares, spread betting, contracts for difference and foreign exchange across world markets. Learn more about spread betting.
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