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Take Home Pay Index Economic Report - August 2015

27 August 2015

Take Home Pay Index Economic Report - August 2015

 
Deborah Souter,
Head of Content,
VocaLink

Data released by VocaLink this month shows that the annual rate of take home pay growth across the UK private sector, as measured by the VocaLink FTSE350 Take Home Pay Index,rose to 2.3% in the three months to the end of July 2015. After over 6 months of take home pay growth fluctuating around 2%, the latest data represent the fastest rate since the three months to May 2014.

Key findings

  • Annual growth in the VocaLink FTSE 350 Take Home Pay Index rose to 2.3% in the three months to July, up from 1.9% in the three months to the end of June.

  • Take home pay growth in the manufacturing sector fell to -0.5% year-on-year in the three months to July, down from 0.5% in the three months to June.

  • The annual rate of growth in the VocaLink Service Sector Take Home Pay Index jumped to 2.7% in the three months to July, up from 2.1% in the previous reading.  

  • Public sector workers’ take home pay growth continued on a gradual upward trend, increasing 0.3 percentage points to 1.7% in the three months to July. 

Click here to download the report. 

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