Unit labour costs across the whole UK economy increased by 0.6 percent quarter-on-quarter in the three months to December 2019, following a 0.1 percent advance in the previous period. Year-on-year, labour costs rose by 2.4 percent in the fourth quarter, the least in over two years, as growth in labour costs per hour outpaced the growth in labour productivity.

Labour Costs in the United Kingdom averaged 68.36 points from 1977 until 2019, reaching an all time high of 109.70 points in the fourth 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. United Kingdom Labour Costs - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Office for National Statistics

Labour Costs in the United Kingdom is expected to be 107.59 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 110.25 in 12 months time. In the long-term, the United Kingdom Labour Costs is projected to trend around 109.23 points in 2021 and 111.41 points in 2022, according to our econometric models.

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United Kingdom Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
109.70 109.00 109.70 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%


News Stream
UK Unit Labour Costs Rise 0.6% in Q4
Unit labour costs across the whole UK economy increased by 0.6 percent quarter-on-quarter in the three months to December 2019, following a 0.1 percent advance in the previous period. Year-on-year, labour costs rose by 2.4 percent in the fourth quarter, the least in over two years, as growth in labour costs per hour outpaced the growth in labour productivity.
2020-04-07
UK Labour Costs Rise 0.5% in Q3
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.
2020-01-08

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”.