The number of workplace deaths increased by 24 last year but fewer people were injured or made unwell at work, according to official figures.
Data published by the Health and Safety Executive (HSE) shows there were 171 fatal injuries between April 2010 and March 2011, up from 147 in the previous 12 months.
Experts warned that cutting back on training and maintenance during the recession could be responsible for the rise.
The construction and agricultural industries continue to report the highest levels of work-related injuries, with "disproportionately high" numbers of incidents, the HSE said.
Despite the rise in fatalities, the regulator said Britain continues to have the lowest rate of fatal occupational injuries in Europe, as well as one of the lowest levels of work-related ill health.
Progress was made in slowing the number of people injured by work, the figures show.
In the 12 months to March 24,726 injuries were reported, compared with 26,268 in 2009/10.
Such injuries included amputations, fractures and burns.
There were just over 90,000 injuries serious enough to keep people off work for four or more days and an estimated 1.2 million people said they were suffering from an illness caused or made worse by their work, down from 1.3 million in 2009/10.
Judith Hackitt, HSE chair, said: "The fall in the number of people being injured by work is of course to be welcomed but we did also see an increase in the number of fatalities during the year.
"Britain can be proud that it has one of the best health and safety records in Europe but as the increase in the number of fatalities makes clear we can never let up in our commitment to addressing the serious risks which continue to cause death and injury in workplaces."
The Institution of Occupational Safety and Health warned that 'belt-tightening' could be partly to blame for the rise in fatalities.
Richard Jones, head of policy and public affairs at the body, said: "We're concerned that this could be a delayed knock-on effect of recession and 'belt-tightening' - cutting back on training and maintenance - within organisations, which could now be finally beginning to bite."
