Wages for full time workers at UK SMEs have grown 8.2% in the last year, data from the first comprehensive real-time salary report on SMEs shows.
Employment Hero’s SmartMatch Employment Report utilises real-time payroll data from 90,000 employees at SMEs across the UK, including employers with 0-500 employees.
The report shows that median hourly wages for full time workers at these businesses grew 8.2% in the year to September to £17 – equivalent to £35,360 annually.
The growth has accelerated in recent months, with wages increasing by 2.9% between August and September and by 4.1% over the last quarter.
Greater London continued to see the highest wages, with median hourly pay of £21.60.
The largest growth was seen in the construction sector, with an astonishing 18.9% annual growth to £17 an hour.
All of this wage growth was well above inflation.
