New research reveals that wages in East Herts dropped by 2.06% over a year compared with a 16.65% rise in neighbouring Uttlesford.
According to the study by UK financial services provider CMC Markets based on Office for National Statistics data, East Herts workers’ average hourly rate fell 41p from £19.95 in 2021 to £19.54 in 2022, placing the district 365th of 408 local authority areas.
By contrast, Uttlesford was in 8th place, with the hourly rate increasing £2.85 from £17.12 to £19.97 – 43p higher than their East Herts counterparts.
Uttlesford is home to the region’s biggest single-site employer, Stansted Airport. It provides over 12,000 jobs across 200 companies.
CMC Markets found that the Leicestershire area of Melton saw the most significant increase in wages – up 35% from an average of £13.33 in 2021 to £17.99 in 2022.
Maldon was in second place. The Essex district had an average hourly wage in 2021 of £14.67, which has increased by 31.77% and now sits at £19.33 in 2022.
CMC’s 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.”
