United Kingdom Labour Costs

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. 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. 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”. 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.

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