PAYstats Pay and Labour Market Statistics, February 2020

Latest pay and labour market statistics February 2020:

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 1.8% in January 2020, increasing from 1.4% in December 2019.
• The Consumer Prices Index (CPI) 12-month rate was 1.8% in January 2020, increasing from 1.3% in December 2019.
• The UK unemployment rate was estimated at 3.8%, 0.2 percentage points lower than a year earlier and 0.1 percentage points lower than the previous quarter.
• The UK economic inactivity rate was estimated at a record low of 20.5%, 0.4 percentage points lower than the previous year and 0.3 percentage points lower than the previous quarter.
• Estimated annual growth in average weekly earnings for employees in Great Britain slowed to 2.9% from 3.2% last month for total pay (including bonuses) and to 3.2% from 3.4% for regular pay (excluding bonuses).
• In real terms (after adjusting for inflation), annual growth in total pay is estimated to be 1.4% and annual growth in regular pay is estimated to be 1.8%.