Labour Costs in the United Kingdom decreased to 107.30 points in the second quarter of 2021 from 110.10 points in the first quarter of 2021. source: Office for National Statistics

Labour Costs in the United Kingdom averaged 45.64 points from 1955 until 2021, reaching an all time high of 111.60 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 December of 2021.

Labour Costs in the United Kingdom is expected to be 113.05 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 117.58 points in 2022 and 120.28 points in 2023, according to our econometric models.

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United Kingdom Labour Costs


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


Related Last Previous Unit Reference
Unemployment Rate 4.30 4.50 percent Sep/21
Unemployed Persons 2063.10 2078.00 Thousand Oct/21
Employed Persons 32523.00 32416.00 Thousand Aug/21
Full Time Employment 24500.00 24440.00 Thousand Aug/21
Part Time Employment 8024.00 7976.00 Thousand Aug/21
Claimant Count Change -14.90 -51.10 Thousand Oct/21
Employment Rate 75.40 75.30 percent Aug/21
Labor Force Participation Rate 78.90 78.90 percent Aug/21
Youth Unemployment Rate 11.70 12.20 percent Aug/21
Labour Costs 107.30 110.10 points Jun/21
Productivity 101.70 101.60 points Jun/21
Job Vacancies 1172.00 1108.00 Thousand Sep/21
Wages 584.00 582.00 GBP/Week Sep/21
Wages in Manufacturing 638.00 639.00 GBP/Week Sep/21
Wage Growth 5.80 7.20 percent Sep/21
Population 67.20 66.80 Million Dec/20
Non Farm Payrolls 29180.00 28973.00 Thousand Sep/21
Employment Change 247.00 235.00 Thousand Aug/21
Average Weekly Hours 31.60 31.50 Hours Aug/21
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”.