Labor share of income in construction industry in the UK 2000-2021

In 2021, 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.