PAYstats Pay and Labour Market Statistics, December 2022

Latest pay and labour market statistics December 2022:

• The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 9.3% in the 12 months to November 2022, down from 9.6% in October.
• The Consumer Prices Index (CPI) rose by 10.7% in the 12 months to November 2022, down from 11.1% in October.
• The UK employment rate for August to October 2022 increased by 0.2 percentage points on the quarter to 75.6% but is still below pre-coronavirus (COVID-19) pandemic levels.
• The unemployment rate for August to October 2022 increased by 0.1 percentage points on the quarter to 3.7%.
• In September to November 2022, the estimated number of vacancies fell by 65,000 on the quarter to 1,187,000. Despite five consecutive quarterly falls, the number of vacancies remains at historically high levels.
• Growth in average total pay (including bonuses) and regular pay (excluding bonuses) among employees was the same at 6.1% in August to October 2022; for regular pay, this is the strongest growth rate seen outside of the coronavirus pandemic period.