Melton workers have enjoyed biggest hourly wage rise in the UK

The findings reveal that Melton’s hourly pay on average rose to £17.99 last year compared to £13.33 in 2021, a sizeable increase of 35 per cent.

The borough finished ahead of Maldon (Essex), which had a 32 per cent increase, Cotswolds (Gloucestershire) 25 per cent and the London borough of Sutton (23 per cent).

The study was compiled by UK financial services provider CMC Markets, which analysed latest Office for National Statistics figures, which showed hourly wage data for every local authority in the UK, without overtime.

Commenting on the findings, the company’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 10.

"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.”

A ‘State of the Borough’ report on Melton in 2021 showed average weekly wages in this area were £526.10 compared to the England average of £587.10.

There are low levels of unemployment in the borough and traditionally it has had a high proportion of low skills and low wage employment, due in part to a large number of food manufacturers.

The study was conducted by CMC Markets, a UK-based financial services company that offers online trading in shares, spread betting, contracts for difference and foreign exchange across world markets.