Current price (smoothed) GVA per hour worked (£) - WMCA

This is the smoothed gross value added (GVA) per hour worked in pounds at current prices, generated from enterprises in the area, calculated using a balanced approach to GVA. Labour productivity is calculated by dividing output GVA by a measure of labour input, in this case total hours worked. The balanced GVA(B) data used in this release are measured in current prices, which includes the effect of inflation. it is not possible to differentiate between the effects of price changes and quantity changes across time. Data are smoothed using a weighted 5-year moving average to reduce volitivity in the data that rises from small sample surveys. GVA estimates are on a workplace basis, that being they are allocated to where the economic activity took place. Please note, figures can be volatile due to sampling. Therefore where there are erratic movements in the time series, caution should be used in interpreting the data.
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