Key data points
Last release
—
Observation period
Q4 2023
Next release
—
Forecast
—
Highest
122.30POINT on Dec 31, 2023
Lowest
4.80POINT on Mar 31, 1955
About 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”.