In 2022, the cost of work in the construction sector in the United Kingdom (UK) represented around 65 percent of that industry's income. This measure, also known as labor share of income, has increased since 2019. The relative cost of staff peaked in 2009, when it represented approximately 71 percent of the construction income. Two key factors can affect these figures: the evolution of construction salaries in the UK and the overall income of the industry. In times of inflation, a drop in the labor share of income could signal that the cost of work has increased at a slower pace than construction prices.
Cost of labor as a share of the construction sector's income in the United Kingdom (UK) from 2000 to 2022
Characteristic
Share of the construction sector's income
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According to the source this is an experimental statistic, which means that it is in a testing phase
Supplementary notes
Labor share for an industry is defined as being the percentage of that industry's factor costs (sum of the compensation of employees and the gross operating surplus) for which compensation of employees is responsible.
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Office for National Statistics (UK). (October 24, 2023). Cost of labor as a share of the construction sector's income in the United Kingdom (UK) from 2000 to 2022 [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1324164/labor-share-of-income-in-uk-construction/
Office for National Statistics (UK). "Cost of labor as a share of the construction sector's income in the United Kingdom (UK) from 2000 to 2022." Chart. October 24, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1324164/labor-share-of-income-in-uk-construction/
Office for National Statistics (UK). (2023). Cost of labor as a share of the construction sector's income in the United Kingdom (UK) from 2000 to 2022. Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1324164/labor-share-of-income-in-uk-construction/
Office for National Statistics (UK). "Cost of Labor as a Share of The Construction Sector's Income in The United Kingdom (Uk) from 2000 to 2022." Statista, Statista Inc., 24 Oct 2023, https://www.statista.com/statistics/1324164/labor-share-of-income-in-uk-construction/
Office for National Statistics (UK), Cost of labor as a share of the construction sector's income in the United Kingdom (UK) from 2000 to 2022 Statista, https://www.statista.com/statistics/1324164/labor-share-of-income-in-uk-construction/ (last visited August 25, 2024)
Cost of labor as a share of the construction sector's income in the United Kingdom (UK) from 2000 to 2022 [Graph], Office for National Statistics (UK), October 24, 2023. [Online]. Available: https://www.statista.com/statistics/1324164/labor-share-of-income-in-uk-construction/
