Labour Costs in the United Kingdom increased to 111.50 points in the second quarter of 2022 from 110.60 points in the first quarter of 2022. source: Office for National Statistics

Labour Costs in the United Kingdom averaged 46.91 points from 1955 until 2022, reaching an all time high of 111.50 points in the second 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 June of 2023.

Labour Costs in the United Kingdom is expected to be 116.18 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 117.71 points in 2024 and 120.07 points in 2025, 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 3.90 3.80 percent Mar 2023
Unemployed Persons 1572.40 1525.70 Thousand Apr 2023
Employed Persons 32995.00 32950.00 Thousand Feb 2023
Full Time Employment 24537.00 24572.00 Thousand Feb 2023
Part Time Employment 8458.00 8378.00 Thousand Feb 2023
Claimant Count Change 46.70 26.50 Thousand Apr 2023
Employment Rate 75.90 75.80 percent Feb 2023
Labor Force Participation Rate 79.00 78.90 percent Feb 2023
Youth Unemployment Rate 11.30 10.80 percent Feb 2023
Productivity 102.10 101.60 points Dec 2022
Labour Costs 111.50 110.60 points Jun 2022
Job Vacancies 1083.00 1105.00 Thousand Mar 2023
Wages 642.00 638.00 GBP/Week Mar 2023
Wages in Manufacturing 708.00 693.00 GBP/Week Mar 2023
Wage Growth 5.80 5.80 percent Mar 2023
Population 67.53 67.08 Million Dec 2021
Non Farm Payrolls -135.95 41.68 Thousand Apr 2023
Average Weekly Hours 31.90 31.90 Hours Feb 2023
Employment Change 182.00 169.00 Thousand Feb 2023

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
111.50 110.60 111.50 4.70 1955 - 2022 points Quarterly
SA, 2019=100