PAYstats Pay and Labour Market Statistics, August 2024

Latest pay and labour market statistics August 2024:

• The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 3.1% in the 12 months to July 2024, up from 2.8% in June 2024.
• The Consumer Prices Index (CPI) rose by 2.2% in the 12 months to July 2024, up from 2.0% in June 2024.
• The UK employment rate (for people aged 16 to 64 years) was estimated at 74.5% in April to June 2024, below estimates of a year ago, but increased in the latest quarter.
• The UK unemployment rate (for people aged 16 years and over) was estimated at 4.2% in April to June 2024, below estimates of a year ago, and decreased in the latest quarter.
• The estimated number of vacancies in the UK decreased in May to July 2024 by 26,000 on the quarter to 884,000.
• Annual growth in employees’ average regular earnings (excluding bonuses) in Great Britain was 5.4% in April to June 2024, and annual growth in total earnings (including bonuses) was 4.5%. This total annual growth rate is affected by comparing with a period including June 2023 when the NHS one-off bonuses were paid.