United Kingdom Labour CostsUnited Kingdom Labour CostsUnited Kingdom Labour Costs

United Kingdom Labour Costs

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Key data points


Last release
Observation period
Q1 2024
Next release
Forecast
Highest
123.00POINT on Mar 31, 2024
Lowest
4.80POINT on Mar 31, 1955

About United Kingdom Labour Costs


Category
Labor
Frequency
Quarterly
Units
POINT
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”.