Employment was down in the South West in July 2025 compared to last year, but wages were up.

The number of people on company payroll in the South West was 2,512,179 in July 2025, down -16,482 (-0.65 per cent) on the year

Median monthly wages stood at £2,420 up £125 (5.45 per cent)

Latest figures from the Office for National Statistics show a drop in the number of people on company payroll in the South West

The total number of people on company payroll in the South West region was 2,512,179 in July 2025, down -16,482 (-0.65 per cent) from the same month last year.

But wages continue to rise.

Median monthly salary in the region stood at £2,420, up £125 (5.45 per cent) on July 2024.

Overall payroll in the UK stood at 30,285,820, down -169,987 (-0.49 per cent).

Employment down in nine months out of 12 in the South West during the last year

Paul Hebden, Director of WageSight, said: "The last few months have seen a sharp increase in the rate of cuts to payroll in the South West, which largely reflects the picture elsewhere in the UK.”

“However, the picture on wages remains better with salaries for those still in employment just managing to outpace inflation which stood at 4.1 per cent in June.”

Over the past 12 months across the South West, employment fell in nine months and rose in two.

Median wages have been rising for seven consecutive months.

Average monthly wage growth over the last three months was 0.24per cent.

WageSight is an employment, pay and consumer prices application that uses official company payroll data to give a snapshot of local economic news and trends.