United Kingdom Labour Costs  Forecast 2016-2020

Labour Costs in the United Kingdom is expected to be 103.60 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in the United Kingdom to stand at 104.80 in 12 months time. In the long-term, the United Kingdom Labour Costs is projected to trend around 110.00 Index Points in 2020, according to our econometric models.

United Kingdom Labour Costs
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Forecast Actual Q2/17 Q3/17 Q4/17 Q1/18 2020 Unit
Labour Costs 103 104 104 105 105 110 Index Points
United Kingdom Labour Costs Forecasts are projected using an autoregressive integrated moving average (ARIMA) model calibrated using our analysts expectations. We model the past behaviour of United Kingdom Labour Costs using vast amounts of historical data and we adjust the coefficients of the econometric model by taking into account our analysts assessments and future expectations. The forecast for - United Kingdom Labour Costs - was last predicted on Tuesday, June 27, 2017.
United Kingdom Labour Last Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 4.6 4.7 4.8 4.8 4.8 5.1
Employed Persons 30746 30890 30940 31200 31250 31800
Unemployed Persons 803 787 792 794 796 815
Part Time Employment 8454 8590 8600 8620 8670 8960
Full Time Employment 23500 23500 23550 23590 23610 23990
Employment Rate 74.8 74.7 74.6 74.5 75.2 74.1
Claimant Count Change 7.3 2 5 2 6 6
Labor Force Participation Rate 78.5 78.5 78.7 79 79.2 82
Long Term Unemployment Rate 1.2 1.5 1.5 1.6 0.91 2.4
Youth Unemployment Rate 12.3 13.7 13.8 14 14.1 14.6
Productivity 102 103 104 104 105 110
Labour Costs 103 104 104 105 105 110
Job Vacancies 770 778 780 783 784 792
Wages 502 511 512 514 516 541
Wages in Manufacturing 583 592 593 595 597 636
Wage Growth 2.1 2.3 2.4 2.5 2.6 3
Minimum Wages 7.5 7.5 7.5 7.5 7.5 9
Population 65.38 65.85 65.92 66.03 66.12 67.36
Retirement Age Women 63.5 63.5 63.5 63.5 63.8 66
Retirement Age Men 65 65 65 65 65 66
Wages Low Skilled 1190 1250 1300 1300 1310 1550
Wages High Skilled 2140 2260 2290 2290 2310 2490
Living Wage Family 1152 1200 1240 1240 1290 1520
Living Wage Individual 1044 1080 1120 1120 1170 1470
Average Weekly Hours 32.2 32.2 32.2 32.2 32.19 32.3
Employment Change 0.4 0.4 0.4 0.5 0.34 0.4