Labour Costs in the United Kingdom increased to 112.10 points in the first quarter of 2022 from 109.60 points in the fourth quarter of 2021. source: Office for National Statistics

Labour Costs in the United Kingdom averaged 46.75 points from 1955 until 2022, reaching an all time high of 112.10 points in the first quarter of 2022 and a record low of 4.70 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 November of 2022.

Labour Costs in the United Kingdom is expected to be 116.72 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 119.99 points in 2023 and 122.87 points in 2024, 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 3.60 3.50 percent Sep 2022
Unemployed Persons 1536.20 1532.90 Thousand Oct 2022
Employed Persons 32739.00 32754.00 Thousand Aug 2022
Part Time Employment 8142.00 8145.00 Thousand Aug 2022
Full Time Employment 24597.00 24609.00 Thousand Aug 2022
Claimant Count Change 3.30 3.90 Thousand Oct 2022
Employment Rate 75.50 75.50 percent Aug 2022
Labor Force Participation Rate 78.40 78.30 percent Aug 2022
Youth Unemployment Rate 9.80 9.00 percent Aug 2022
Productivity 101.80 101.40 points Jun 2022
Labour Costs 112.10 109.60 points Mar 2022
Job Vacancies 1225.00 1241.00 Thousand Sep 2022
Wages 621.00 618.00 GBP/Week Sep 2022
Wages in Manufacturing 677.00 672.00 GBP/Week Sep 2022
Wage Growth 6.00 6.10 percent Sep 2022
Population 67.53 67.08 Million Dec 2021
Non Farm Payrolls 74.22 93.60 Thousand Oct 2022
Average Weekly Hours 31.70 31.90 Hours Aug 2022
Employment Change -52.00 -109.00 Thousand Aug 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
112.10 109.60 112.10 4.70 1955 - 2022 points Quarterly
SA, 2019=100