Published:
Earnings and employment from Pay As You Earn Real Time Information, UK: September 2026
ONS and HMRC publish monthly PAYE RTI estimates of payrolled employees and pay for the UK, including regional breakdowns, providing timely labour-market information.
The Office for National Statistics (ONS), jointly with HM Revenue and Customs (HMRC), has released its monthly earnings and employment statistics derived from Pay As You Earn (PAYE) Real Time Information for September 2026. The release provides estimates of payrolled employees and their pay, using HMRC PAYE RTI data, and is described as accredited official statistics.
The publication includes non-seasonally adjusted monthly estimates and also provides seasonally adjusted series, alongside a revision triangle to show changes to earlier estimates. It covers geography at NUTS 1, 2 and 3 levels and local authorities, meaning traders can also look for regional divergence rather than relying on a single national figure.
From an FX perspective, the core importance lies in wages and employment signals. PAYE RTI-based measures are closely watched because they help inform views on pay growth and the strength of labour demand, which can influence inflation persistence and thus expectations for Bank of England policy.
Traders should watch the next ONS/HMRC release on 20 October 2026 for how payrolled employee growth and pay changes evolve month-to-month, and for whether any regional patterns appear that could affect the broader demand and inflation narrative for the UK economy.
Why this matters for FX
Labour-market earnings and employment data feed directly into wage growth and demand conditions, which are central to UK inflation dynamics and hence Bank of England rate expectations. For FX, that affects the GBP via changes to expected interest-rate paths and the outlook for economic momentum.