Unit labor costs in the UK rose by 5.9 percent from a year earlier in the third quarter of 2020, driven primarily by an increase in the labor costs per hour, which dominated a smaller increase in output per hour. source: Office for National Statistics
Labour Costs in the United Kingdom averaged 65.54 points from 1977 until 2020, reaching an all time high of 114.20 points in the second quarter of 2020 and a record low of 19.60 points in the first quarter of 1977. This page provides the latest reported value for - United Kingdom Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Labour Costs - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Labour Costs in the United Kingdom is expected to be 110.51 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in the United Kingdom to stand at 111.35 in 12 months time. In the long-term, the United Kingdom Labour Costs is projected to trend around 113.02 points in 2022 and 115.17 points in 2023, according to our econometric models.