PAYstats Pay and Labour Market Statistics, February 2023

Latest Pay and Labour Market Statistics February 2023:

• The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 8.8% in the 12 months to January 2023, down from 9.2% in December 2022.
• The Consumer Prices Index (CPI) rose by 10.1% in the 12 months to January 2023, down from 10.5% in December 2022.
• The UK employment rate was estimated at 75.6% in October to December 2022, 0.2 percentage points higher than the previous three-month period.
• The unemployment rate for October to December 2022 increased by 0.1 percentage points on the quarter, to 3.7%.
• In November 2022 to January 2023, the estimated number of vacancies fell by 76,000 on the quarter to 1,134,000, the seventh consecutive quarterly fall since May to July 2022.
• Growth in average total pay (including bonuses) was 5.9% and growth in regular pay (excluding bonuses) was 6.7% among employees in October to December 2022.