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Experimental Labor Market Data from the ONS – Data Additions Highlight

The UK has started to release an experimental monthly estimate of paid employees and their pay. The data, which we’ve recently added to the Macrobond database, is released jointly by HM Revenue and Customs’ (HMRC), Pay As You Earn (PAYE), Real Time Information (RTI) and the Office of National Statistics (ONS). Lately, many countries have released experimental and more high-frequency data to monitor the impact of COVI19. Similarly, as stated by the ONS, this data has been developed as a response to the Coronavirus crisis, and its methodology will continue to be developed.

We looked at this data to see just how severely employment and income have been hit by the pandemic in the UK. The number of paid employees continued to plummet in July on a YoY basis, but at a slower pace than it did between March and April.

This dataset also includes median wages and salaries by region. There is a slight increase in the 3-month average for almost all regions except Yorkshire & the Humber, North East, West Midlands and the UK as a whole. The UK median is shown here for comparative purposes, but, according to the source, does not represent an “average” of median pay growth across the regions. That’s why it’s statistically possible for median pay growth for the UK as a whole to be lower than pay growth in all consistent parts of the UK.

Earnings have been declining among almost all percentiles of the pay distribution since the onset of the Coronavirus pandemic.

The chart below, displaying pay distribution in June, shows that 10% of paid employees earn less than or equal to 608£ while 99 percent of paid employees earn less than
12 185£.

This ONS dataset is just one among our latest additions. Below, you can find a full list of data that’s new in the Macrobond database.

Data Additions by Country / Region

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