United Kingdom: Labor cost
* indicates monthly or quarterly data series
The most recent value is 220.6 index points as of June 2024, an increase compared to the previous value of 219.96 index points. Historically, the average for the United Kingdom from January 2000 to June 2024 is 147.86 index points. The minimum of 95.86 index points was recorded in February 2000, while the maximum of 220.6 index points was reached in June 2024.
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* indicates monthly or quarterly data series
- Measure: index points
- Source: Office for National Statistics of the United Kingdom
| Recent values | United Kingdom: Labor cost index |
|---|---|
| 2024 Jun | 220.6 |
| 2024 May | 219.96 |
| 2024 Apr | 219.57 |
| 2024 Mar | 218.75 |
| 2024 Feb | 217.05 |
| 2024 Jan | 214.93 |
| 2023 Dec | 214.28 |
| 2023 Nov | 213.13 |
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Definition: The index reflects the level of the total compensation of employees in the economy. Labor costs are defined as core expenditure borne by employers for the purpose of employing staff. They include employee compensation, with wages and salaries in cash and in kind, employers' social security contributions and employment taxes regarded as labor costs minus any subsidies received.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Labor force | 34.67 | 2023 | million people |
| Unemployment rate | 4.05 | 2023 | percent |
| Female unemployment | 4.17 | 2023 | percent |
| Male unemployment | 4.52 | 2023 | percent |
| Youth unemployment | 12.01 | 2023 | percent |
| Labor force participation | 62.34 | 2023 | percent |
| Labor force: percent female | 47.61 | 2023 | percent |
| Female labor force participation | 58.26 | 2023 | percent |
| Male labor force participation | 66.58 | 2023 | percent |
| Self-employment | 15.67 | 2022 | percent |
| Employment | 33.20 | 9/2023 | million employed people |
| Unemployment rate | 4.00 | 9/2023 | percent |
| Labor cost | 215.41 | 9/2023 | index points |