Labour costs in the UK increased by 0.5 percent quarter-on-quarter in the three months to September 2019, following a 1.7 percent climb in the previous period. Year-on-year, labour costs rose by 3.6 percent in the third quarter as wages rose faster than gains in productivity.

Labour Costs in the United Kingdom averaged 68.12 points from 1977 until 2019, reaching an all time high of 109.40 points in the third quarter of 2019 and a record low of 20.90 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. source: Office for National Statistics

Labour Costs in the United Kingdom is expected to be 110.85 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 112.90 in 12 months time. In the long-term, the United Kingdom Labour Costs is projected to trend around 120.48 points in 2020, according to our econometric models.


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United Kingdom Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
109.40 108.90 109.40 20.90 1977 - 2019 points Quarterly
SA, 2016=100

Calendar GMT Actual Previous Consensus TEForecast
2018-01-05 09:30 AM Q3 0.4% 0.7%


United Kingdom Labour Costs
In the UK, unit labour costs (ULCs) reflect the full labour costs, including social security and employers’ pension contributions, incurred in the production of a unit of economic output. Changes in labour costs are a large factor in overall changes in the cost of production. If increased costs are not reflected in increased output, for instance, this can put upward pressure on the prices of goods and services – sometimes referred to as “inflationary pressure”.

United Kingdom Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.80 3.80 12.00 3.40 percent [+]
Employed Persons 32901.00 32801.00 32901.00 23630.00 Thousand [+]
Unemployed Persons 1241.20 1240.20 3090.00 422.60 Thousand [+]
Part Time Employment 8544.00 8564.00 8704.00 5995.00 Thousand [+]
Full Time Employment 24357.00 24238.00 24357.00 19136.00 Thousand [+]
Employment Rate 76.30 76.20 76.30 65.60 percent [+]
Claimant Count Change 14.90 14.90 142.80 -98.50 Thousand [+]
Labor Force Participation Rate 79.40 79.20 79.40 74.10 percent [+]
Long Term Unemployment Rate 0.90 1.00 4.30 0.90 percent [+]
Youth Unemployment Rate 11.40 11.90 22.30 9.70 percent [+]
Labour Costs 109.40 108.90 109.40 20.90 points [+]
Productivity 101.30 100.90 101.60 42.40 points [+]
Job Vacancies 805.00 798.00 861.00 432.00 Thousand [+]
Wages 544.00 543.00 544.00 300.00 GBP/Week [+]
Wages in Manufacturing 622.00 621.00 622.00 356.00 GBP/Week [+]
Wage Growth 3.20 3.20 6.60 -2.60 percent [+]
Minimum Wages 8.21 7.83 8.21 5.05 GBP/Hour [+]
Population 66.19 65.81 66.19 52.20 Million [+]
Retirement Age Women 65.50 65.00 65.50 60.00 [+]
Retirement Age Men 65.50 65.00 65.50 65.00 [+]
Living Wage Family 1300.00 1230.00 1300.00 1180.00 GBP/Month [+]
Living Wage Individual 895.00 850.00 900.00 785.00 GBP/Month [+]
Wages High Skilled 2330.00 2110.00 2460.00 2110.00 GBP/Month [+]
Wages Low Skilled 1320.00 1180.00 1320.00 1180.00 GBP/Month [+]
Average Weekly Hours 32.00 32.20 33.50 31.30 Hours [+]
Employment Change 208.00 24.00 311.00 -279.00 Thousand [+]