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The chart below reflects the average (mean) wage as reported by various data providers, like Eurostat. [1] The salary distribution is right-skewed , therefore more than 50% of people earn less than the average gross salary.
The gross average monthly wage estimates for 2023 are computed by converting national currency figures from the United Nations Economic Commission for Europe (UNECE) Statistical Database, compiled from national and international (the CIS, Eurostat, the OECD) official sources. Wages in U.S. dollars are computed by the UNECE Secretariat using ...
In the UK, it replaced the Average Earnings Index (AEI) as the lead measure of short-term earnings growth in January 2010. [2] In Australia, the average weekly earnings is calculated and published twice-yearly by the Australian Bureau of Statistics. It looks at weekly earnings across states and territories; industries; and public and private ...
Median household disposable income in the UK was £29,400 in the financial year ending (FYE) 2019, up 1.4% (£400) compared with growth over recent years; median income grew by an average of 0.7% per year between FYE 2017 and FYE 2019, compared with 2.8% between FYE 2013 and FYE 2017. [2]
However, last year the UK economy ultimately fell short of this, with 0.1% growth in GDP, according to the Office for National Statistics (ONS).
The UK economy grew by 0.1% last year and is expected to see growth improve to 0.4% this year, although this is below the 0.7% previously predicted.
A 2014 study argued that wages now respond more strongly to changes in unemployment rates. It documented how the UK's 1979 - 2010 real wage growth across deciles has stagnated since 2003. Its models found that pre-2003, a doubling of the unemployment rate saw median wages fall 7%, but now the same doubling sees a fall of 12%. [15]
The Office for Budget Responsibility has predicted that UK gross domestic product will grow by 1.1% in 2024. UK economic growth upgraded this year amid ‘temporary boost’ from spending Skip to ...