Labour Costs in the United Kingdom decreased to 109.60 points in the fourth quarter of 2021 from 109.70 points in the third quarter of 2021. source: Office for National Statistics

Labour Costs in the United Kingdom averaged 46.13 points from 1955 until 2021, reaching an all time high of 112.20 points in the second quarter of 2020 and a record low of 4.60 points in the first quarter of 1955. 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 August of 2022.

Labour Costs in the United Kingdom is expected to be 114.75 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Labour Costs is projected to trend around 118.30 points in 2023 and 121.14 points in 2024, according to our econometric models.

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United Kingdom Labour Costs

Related Last Previous Unit Reference
Unemployment Rate 3.80 3.80 percent May 2022
Unemployed Persons 1549.10 1569.20 Thousand Jun 2022
Employed Persons 32863.00 32707.00 Thousand Apr 2022
Part Time Employment 8177.00 8145.00 Thousand Apr 2022
Full Time Employment 24686.00 24562.00 Thousand Apr 2022
Claimant Count Change -20.10 -34.70 Thousand Jun 2022
Employment Rate 75.90 75.60 percent Apr 2022
Labor Force Participation Rate 78.90 78.70 percent Apr 2022
Youth Unemployment Rate 10.40 10.80 percent Apr 2022
Productivity 101.70 102.30 points Mar 2022
Labour Costs 109.60 109.70 points Dec 2021
Job Vacancies 1294.00 1297.00 Thousand May 2022
Wages 601.00 602.00 GBP/Week May 2022
Wage Growth 6.20 6.80 percent May 2022
Wages in Manufacturing 660.00 656.00 GBP/Week May 2022
Population 67.53 67.08 Million Dec 2021
Non Farm Payrolls 29574.00 29543.00 Thousand Jun 2022
Average Weekly Hours 31.80 31.90 Hours Apr 2022
Employment Change 296.00 177.00 Thousand Apr 2022

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”.
Actual Previous Highest Lowest Dates Unit Frequency
109.60 109.70 112.20 4.60 1955 - 2021 points Quarterly
SA, 2019=100