Average Weekly Earnings, regular pay is the main indicator of changes in average personal earnings excluding bonuses, for a period of three months compared to the same period of the previous year. AWE is calculated monthly as the ratio of estimated total pay for the whole economy, divided by the total number of employees.
The calculation does not include self-employed, HM Armed Forces and government-supported trainees.
The indicator is used by the Bank of England and HM Treasury to measure the pressure being put on inflation by the labor market and to measure wages growth.
The chart of the entire available history of the "United Kingdom Average Weekly Earnings, Regular Pay (excl. Bonuses) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.