Forecast: Basic Iron, Steel and Ferro-Alloys Labour Cost Per Employee FTE in the UK

In 2023, the labour cost per employee FTE in the UK for the basic iron, steel, and ferro-alloys industry stood at an estimated 44.6 thousand euros. The forecasted data from 2024 to 2028 indicates a gradual decline in labour costs, with values decreasing from 44.0 thousand euros in 2024 to 41.6 thousand euros by 2028. This equates to an approximate year-on-year decline of 1.4% over this period, with a compounded annual growth rate (CAGR) of -1.55% over the five-year forecast horizon.

Future trends to watch for include:

  • Potential fluctuations in steel and alloy demand impacting labour costs.
  • Technological advancements possibly reducing manpower requirements.
  • Governmental policy changes influencing the industry cost structure.

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