New research has revealed the UK areas that have seen the biggest wage increases, with Melton coming out on top.
The study by UK financial services provider CMC Markets analysed the latest release from the Office for National Statistics, which showed hourly wage data for every local authority in the United Kingdom, without overtime.
It found that the Leicestershire area of Melton saw the most significant increase in wages. Melton’s hourly pay on average was £13.33 in 2021, which has now increased to £17.99 in 2022, a percentage increase of 34.96%.
The Essex area of Maldon comes in second place. The area had an average hourly wage of £14.67 in 2021, which has increased by 31.77% and now sits at £19.33 in 2022.
More from News
- Boost Named monday.com’s Best Professional Services Partner In EMEA For The Second Consecutive Year
- Tech Experts Discuss The Future Of Agentic AI After Agent Mines Crypto Without Receiving Instructions
- Meta Acquires Moltbook: What Responsibility Do Meta And Regulators Have To Control The Platform?
- Are Space Data Centres The Next Big Thing, Or Is Musk Dreaming Big?
- Why Doesn’t Sundar Pichai Have The Cult Following Of Other Big Tech CEOs, Despite Running A $3 Trillion Company?
- New Reports From Indeed Show That Businesses Simply Do Not Have Time For AI Upskilling
- Why Exactly Are Oil Refineries Being Targeted Amid Middle East-US Conflict?
- Experts Share: Is Cyber Warfare The New Battlefield Of Modern Conflict, And Is The US Prepared?
The Cotswold area, located in Gloucestershire, takes third place. The area currently has an average hourly pay of £17.81, which has increased by 24.89% from 2021’s value of £14.26.
Coming in fourth place is the London borough of Sutton. In 2021, the area had an average hourly pay of £16.82, which in 2022 now sits at £20.73, a percentage increase of 23.25%.
Rounding out the top five is East Dunbartonshire, one of three Scottish areas in the top ten. The area had an average hourly pay of £14.99 in 2021, which has increased by 19.35% in 2022 to £17.89.
Commenting on the findings, CMC Markets’ chief market analyst Michael Hewson said: “What’s fascinating to see is the huge wage growth in so many areas, and how it isn’t just tied to one area with locations across Britain making their way into the top ten. This wage growth is also seen outside of financial hubs and major cities, which may make people question whether the inner city pressure is worth it.”
