ASHE 6115 2020 - the results are in!

Following a slight delay, the 2020 release of the Annual Survey of Hours and Earnings (ASHE) was published on 3^rd 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 80^th 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).