ASHE 6115 2020 - the results are in!Nov 4th, 2020
Following a slight delay, the 2020 release of the Annual Survey of Hours and Earnings (ASHE) was published on 3rd November 2020.
Median weekly earnings for full-time employees increased very slightly, in nominal terms, rising by 0.1%, to £586, as compared with 2019.
There was though, a clear distinction between earnings growth in the public and private sectors, +2.4% and -0.6%, respectively, this being reflective of the greater economic impact that COVID-19 has had on private sector workers, so far at least.
However, ASHE 6115 at the 80th percentile (the most common measure used in periodical payments orders for care and case management) bucked the trend in the private sector, with average hourly earnings growing by 5.31% on last year’s figure, with similar levels of growth also seen across all other centiles.
The following table summarises the change in each percentile:
RPI and CPI inflation rose by 1.53% and 0.84%, respectively, over the same period, illustrating the material benefit of the protection afforded by ASHE 6115-linked periodical payments (particularly over a lump sum).