The labour costs in crop and animal production, hunting, and related service activities in the UK are expected to increase steadily from 2024 to 2028. The forecast shows a consistent year-on-year growth of approximately 1.4% to 1.5%, with a compound annual growth rate (CAGR) over five years of around 1.52%. In 2023, the actual labour costs stood at 4.25 billion pounds. The consistent increase each year suggests a stable upward trend in labour costs for this sector.
Future trends to watch include:
- Potential impacts of economic policies on labour costs.
- Technological advancements reducing manual labour dependency.
- Changes to immigration laws affecting workforce availability.
- Fluctuations in demand for UK agricultural products.
