Spliced Average Weekly Earnings in the United Kingdom
SAWEUKM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
508.00
Year-over-Year Change
2.01%
Date Range
10/1/1933 - 1/1/2017
Summary
The Spliced Average Weekly Earnings in the United Kingdom measures changes in the average weekly pay of employees in the UK. It is a key economic indicator used to assess the strength of the labor market and monitor inflationary pressures.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series splices together two measures of average weekly earnings to provide a consistent long-term trend. It is used by economists, policymakers, and analysts to understand wage growth and its implications for inflation, consumer spending, and the broader economy.
Methodology
The data is collected through surveys of UK businesses and calculated as the mean weekly pay across all employees.
Historical Context
Trends in average weekly earnings are closely watched by the Bank of England and government policymakers to inform monetary and fiscal policy decisions.
Key Facts
- UK average weekly earnings have risen by over 50% since 2000.
- Real wage growth in the UK has lagged behind productivity growth in recent decades.
- Wage pressures are a key consideration for the Bank of England's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Spliced Average Weekly Earnings in the United Kingdom measures the mean weekly pay of employees across the UK economy.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly earnings are a crucial indicator of labor market conditions and inflationary pressures, informing economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of UK businesses and calculated as the mean weekly pay across all employees.
Q: How is this trend used in economic policy?
A: Wage growth data is closely monitored by the Bank of England and government policymakers to guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of 4-6 weeks from the end of the reference period.
Related Trends
Average Weekly Earnings Per Person in the United Kingdom
AWEPPUKQ
Consumer Price Inflation in the United Kingdom
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Trade Prices: Export Prices in the United Kingdom
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Trade Prices: Terms of Trade in the United Kingdom
TVTTUKA
Consumer Price Index in the United Kingdom
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Wholesale (Producer) Price Index in the United Kingdom
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Citation
U.S. Federal Reserve, Spliced Average Weekly Earnings in the United Kingdom (SAWEUKM), retrieved from FRED.