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.