The labour costs in the UK for the rubber and plastics products, and other non-metallic mineral products, are forecasted to increase year-on-year from 2024 to 2028. Starting from 10.93 billion pounds in 2024, costs will rise steadily to 11.48 billion pounds by 2028. Compared to 2023, this demonstrates a consistent upward trend, indicating a compounded annual growth rate (CAGR) in labour costs.
Future trends to watch for include potential impacts of automation, regulatory changes, and shifts in global trade dynamics, which may affect labour costs. Additionally, inflationary pressures and labour market tightness could pose challenges, influencing the trajectory of these costs.
