U.K. Labor Cost Growth Picks Up to Fastest in More Than a YearBy
U.K. labor-cost pressures appear to be building, according to the latest data from the Office for National Statistics.
The cost of employing someone for an hour of work rose 3 percent in the third quarter compared with a year earlier, the fastest pace since the April-June period in 2016, the ONS said Tuesday.
From the previous quarter, labor costs were up 1.1 percent. That was down from 1.4 percent, which was the fastest since 2015.
The pickup was led by non-wage costs, which increased 5.8 percent year-on-year. That includes national insurance and pension contributions as well as sickness and maternity pay.