diff --git a/ruby/Gemfile b/ruby/Gemfile
index 00215cc55e9e7615b4587ab08f697d0ffe22978b..d76c5a168273959e992afb4601882cf2ecdd8483 100644
--- a/ruby/Gemfile
+++ b/ruby/Gemfile
@@ -13,7 +13,8 @@ gem 'faraday', '~> 1.0'
 gem 'rbtrace', require: false
 
 # Labkit provides observability functionality
-gem 'gitlab-labkit', '~> 0.15.0'
+# This version needs to be in sync with GitLab CE/EE
+gem 'gitlab-labkit', '~> 0.16.0'
 
 # Detects the open source license the repository includes
 # This version needs to be in sync with GitLab CE/EE
diff --git a/ruby/Gemfile.lock b/ruby/Gemfile.lock
index 32d761f9f3f7c34c6afa3259f4b210bdca620201..50a220ed8cb0ef18b59eef92055949f85fd9f42a 100644
--- a/ruby/Gemfile.lock
+++ b/ruby/Gemfile.lock
@@ -65,7 +65,7 @@ GEM
     gitlab-gollum-rugged_adapter (0.4.4.3.gitlab.1)
       mime-types (>= 1.15)
       rugged (~> 1.0)
-    gitlab-labkit (0.15.0)
+    gitlab-labkit (0.16.1)
       actionpack (>= 5.0.0, < 7.0.0)
       activesupport (>= 5.0.0, < 7.0.0)
       grpc (~> 1.19)
@@ -196,7 +196,7 @@ GEM
     stringex (2.8.5)
     thor (1.1.0)
     thread_safe (0.3.6)
-    thrift (0.13.0)
+    thrift (0.14.1)
     timecop (0.9.1)
     tzinfo (1.2.9)
       thread_safe (~> 0.1)
@@ -221,7 +221,7 @@ DEPENDENCIES
   github-linguist (~> 7.12)
   gitlab-gollum-lib (~> 4.2.7.10.gitlab.1)
   gitlab-gollum-rugged_adapter (~> 0.4.4.3.gitlab.1)
-  gitlab-labkit (~> 0.15.0)
+  gitlab-labkit (~> 0.16.0)
   gitlab-markup (~> 1.7.1)
   google-protobuf (~> 3.12)
   grpc (~> 1.30.2)