Latest pay and labour market statistics August 2021:
The Consumer Prices Index (CPI) rose by 2.0% in the 12 months to July 2021, down from 2.5% to June.
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 2.1% in the 12 months to July 2021.
The most recent data show the labour market continuing to recover.
In the latest period (April to June 2021), there was a quarterly increase in the employment rate of 0.3 percentage points, to 75.1%, and a decrease in the unemployment rate of 0.2 percentage points, to 4.7%.
The redundancy rate decreased on the quarter and has returned to pre-pandemic levels.
There were an estimated 953,000 job vacancies in May to July 2021, a record high, having grown by 290,000 compared with the previous quarter and 168,000 more than its pre-pandemic level (January to March 2020).
Growth in average total pay (including bonuses) was 8.7% and regular pay (excluding bonuses) was 7.2%.