* The manufacturing of textiles, leather and clothing industry has seen the biggest increase in wages between December 2022 and December 2023

* The agriculture, forestry and fishing industry takes second

* The real estate activities industry takes third

New research has revealed the UK industries that have had the most significant increase in wages, with the manufacturing of textiles, leather and clothing industry coming out on top.

The study by Journo Research, with the help of global fintech group Plus500 analysed the latest release from the Office for National Statistics, featuring results from their Wages and Salaries Survey, and compared the percentage increase in weekly earnings from December 2022 to December 2023.

It found that the manufacturing of textiles, leather and clothing industry has seen the biggest wage increase in one year. In December 2022, average weekly earnings sat at £489.18 for the industry, which went up to £549.41 in December 2023. This is an increase of 12.31%, the highest of any industry.

The agriculture, forestry and fishing industry takes second on the list. Weekly earnings in the industry increased from £462.40 to £514.45 between December 2022 and December 2023, which is a percentage increase of 11.26%.

Following closely behind in third is the real estate activities industry. Between December 2022 and December 2023, the average weekly earnings in the industry increased from £632.48 to £703.64, a percentage change of 11.25%.

Taking fourth place on the list is the accommodation and food service activities industry. Average weekly earnings increased from £296.12 in December 2022 to £325.71 in December 2023, a percentage increase of 9.99%.

Rounding out the top five is the manufacturing of basic metals and metal products industry, which has seen weekly earnings rise from £700.15 in December 2022 to £765.37 in December 2023, an increase of 9.31%.

Top ten industries with the biggest increase in wages

Rank / Industry / 2022 Dec / 2023 Dec / Dec 2022-2023 year change

1 / Manufacturing - Textiles, Leather and Clothing / £489.18 / £549.41 / 12.31%

2 / Agriculture, Forestry and Fishing / £462.40 / £514.45 / 11.26%

3 / Real Estate Activities / £632.48 / £703.64 / 11.25%

4 / Accommodation and Food Service Activities / £296.12 / £325.71 / 9.99%

5 / Manufacturing - Basic Metals and Metal Products / £700.15 / £765.37 / 9.31%

6 / Information and Communication / £1,070.36 / £1,166.77 / 9.01%

7 / Administrative and Support Service Activities / £541.64 / £585.39 / 8.08%

8 / Retail Trade and Repairs / £379.09 / £405.17 / 6.88%

9 / Public Administration / £683.90 / £728.29 / 6.49%

10 / Financial & Insurance Activities / £1,489.82 / £1,583.41 / 6.28%

ENDS

Source: Office for National Statistics, EARN03 Average Weekly Earnings - Not Seasonally Adjusted Average Weekly Earnings, Bonuses excluded available here

Methodology:

Weekly earnings data was taken from the Office for National Statistics

The average was found for each month between December 2022 and December 2023 for every UK industry

Each industry was ranked based on the percentage change between these two points, ranked from highest to lowest as shown above

If using these insights, please provide a link to Plus500, which ensures we can send you more stories like this in future.

Lee Beardsley

lee.beardsley@journoresearch.org

Phone inquires: +44208 050 0054

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