FX.co ★ UK Wage Growth Slows to Near 4-Year Low

In the UK, regular pay, excluding bonuses, increased by 4.5% year-over-year, reaching GBP 689 per week during the three months leading up to November 2025. This represents a slight decrease from a 4.6% rise in the previous period and aligns with market expectations. This period marks the smallest growth seen since the three months ending in April 2022. While wages in the private sector decelerated to 3.6% from 3.9%, marking the lowest level since late 2020, public sector wages saw an accelerated increase of 7.9% from 7.6%, the fastest on record. When analyzed by industry, annual pay increases were highest in wholesale, retail, hotels, and restaurants at 5.1%, followed by the services sector at 4.6%, manufacturing at 4.4%, construction at 2.4%, and finance and business services at 2.2%. After adjusting for inflation, real wages rose by 0.6% in the three months up to November, maintaining the same level for the second consecutive period.