Based on the expert analysis and our database of 440+ UK industries, 麻豆区 presents a list of the Industries with the Highest Labor Costs in the UK in 2024
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View a list of the Top 25 industries with the highest labor costsLabor Costs for 2024: $28.9B
Industry revenue is expected to contract at a compound annual rate of 4.3% over the five years through 2023-24 to £51.2 billion. Industry growth has been constrained by falling funding from the EU because of Brexit. High-profile scandals have prevented major players from claiming government funding and reduced support from the public. In combination with public funding cuts, demand for social services has risen. Cuts to overseas aid budgets, announced in November 2020, are constraining revenue over the two years through 2023-24.
In 2020-21, falling disposable incomes and weak consumer confidence as a result of the COVID-19 pandemic lowered voluntary donations,... Learn More
Labor Costs for 2024: $28.5B
Business process outsourcing (BPO) companies provide services to clients in all sectors of the economy, with the financial services and public sectors being particularly important markets. IT adoption and government expenditure have increased throughout the period, incentivising businesses to invest more heavily in IT systems and upgrades, supporting demand for BPO services.
Industry revenue is forecast to fall at a compound annual rate of 2.5% over the five years through 2023-24 to £71.5 billion, including expected growth of 4.6% in 2023-24. Advances in cloud computing, mobile technology and big data have also created new opportunities for industry operators to add value... Learn More
Labor Costs for 2024: $28.0B
Companies in the Construction Contractors industry are active across the building construction and civil engineering markets. Despite being remunerated for completing new building and infrastructure construction contracts or fulfilling maintenance, repair, renovation and remodelling contract obligations, the spectrum of services offered by civils and general building contractors in this industry is multifaceted. Some contractors focus on new dwellings construction, while civil engineering specialists afford clients services across the infrastructure value chain. Some contractors specialise in commercial building activity, while many independent contractors may focus on small-scale repair and maintenance contracts in local markets.
In the lead-up to the pandemic, the government's... Learn More
Labor Costs for 2024: $24.5B
Over the five years through 2022-23, the Universities industry's revenue is expected to grow at a compound annual rate of 1.3% to £47 billion. This expansion can be attributed to an increase in student numbers, rising tuition fees and growing investment returns over much of the period. The increase in tuition fees to £9,250 in 2017-18 has been an important driver of revenue growth. However, with tuition fees frozen since 2012, record inflation throughout 2022 has meant their real value has plummeted. The cap on undergraduate student numbers in the UK was lifted in 2020-21, leading to a rise in... Learn More
Labor Costs for 2024: $23.6B
Over the five years through 2022-23, revenue is projected to climb at a compound annual rate of 2.3%. This growth has primarily been driven by an enhanced demand for IT consulting services. In addition, regulatory changes in the financial services sector, the industry's largest downstream market, have benefitted the industry, as banks and other financial institutions have required assistance to reformulate business strategies and operations to comply with new policies.
Plunging business confidence following the COVID-19 outbreak reduced demand for consulting services in 2020-21, as downstream companies held back on expanding their operations in the immediate aftermath of the outbreak. In... Learn More
Labor Costs for 2024: $23.4B
Temporary-Employment Placement Agencies' revenue is forecast to decline at a compound annual rate of 3.4% to £41.4 billion over the five years through 2022-23. The COVID-19 outbreak meant key employers of temporary workers in the sports and music events spaces completely shut their doors and businesses froze hiring, reducing clients for agencies. Sign-ups for temporary employment declined, hitting revenue in 2020-21. Companies pressed play immediately on hiring as the economy reopened in 2021-22 with record vacancies particularly in the service sector, boosting revenue for recruiters.
A tight labour market is encouraging employers to rely on temporary-employment placement agencies to fight... Learn More
Labor Costs for 2024: $21.8B
The traditional 'big four' supermarkets (Tesco, Sainsbury's, Asda and Morrisons) are under intense pressure from discounters like Aldi and Lidl, with their low prices and improving quality of products resonating with price-conscious shoppers. Sainsbury's and Asda sought to merge in 2018 to better position themselves against the threat of the discount chains. However, the CMA blocked their plans, stating that the merger could lead to higher prices and reduced choice and quality. The COVID-19 pandemic sparked initial stockpiling activity and paved the way for online delivery services to become essential to people's lives. According to the ONS, food store volume... Learn More
Labor Costs for 2024: $20.7B
A growing and ageing population has increased demand, but public healthcare budgets have failed to keep pace with this, which has aided demand for private hospitals as a greater number of patients seek private treatment. Over the five years through 2023-24, industry revenue is expected to rise at a compound annual rate of 1.8% to reach £118.2 billion.
The outbreak of COVID-19 necessitated the release of significant government funding to help hospitals boost their capacities to treat afflicted patients. NHS funding rose from £148.9 billion in 2019-20 to £191 billion in 2020-21, according to the King's Fund, as the government boosted... Learn More
Labor Costs for 2024: $19.9B
The Computer Consultants industry is composed of businesses that provide expert advice and assistance in planning and designing computer systems that integrate computer hardware, software and communication technologies. Computer consultants provide services to clients in all sectors of the economy, although the financial services and public sectors are particularly important markets. Demand for industry services is largely influenced by business confidence levels, which typically rise and fall in line with general economic conditions, and technological advancements, particularly those that are beneficial to businesses.
Over the five years through 2022-23, industry revenue is forecast to grow at a compound annual rate of... Learn More
Labor Costs for 2024: $19.2B
Over the five years through 2023-24, revenue is projected to dip at a compound annual rate of 1.6% to £62.3 billion. However, this is mainly the result of a sharp drop in revenue in 2020-21, as industry demand slumped amid depressed business investment and subdued construction activity during the COVID-19 outbreak. Commercial construction deteriorated amid plunging business confidence. Nevertheless, strong infrastructure construction activity, including electricity and telecommunications infrastructure construction, has underpinned industry revenue. In addition, government capital spending has increased over the period, as highlighted by the approval of large infrastructure projects, including High Speed 2.
Following a solid recovery in... Learn More
Based on the expert analysis and our database of 440+ UK industries, 麻豆区 presents a list of the Least Risky Industries in the UK in 2024
VIEW ARTICLEBased on the expert analysis and our database of 440+ UK industries, 麻豆区 presents a list of the Biggest Industries by Employment in the UK in 2024
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