Latest pay and labour market statistics March 2020:
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 1.7% in February 2020, down from 1.8% in January 2020.
The Consumer Prices Index (CPI) 12-month rate was 1.7% in February 2020, down from 1.8% in January.
The UK employment rate in the three months to January 2020 was estimated at a joint record high of 76.5%, 0.4 percentage points higher than a year earlier and 0.3 percentage points up on the previous quarter.
The UK unemployment rate in the three months to January 2020 was estimated at 3.9%, largely unchanged compared with a year earlier and 0.2 percentage points higher than the previous quarter.
Estimated annual growth in average weekly earnings for employees in Great Britain in the three months to January 2020 was 3.1% for both total pay (including bonuses) and regular pay (excluding bonuses).
In real terms (after adjusting for inflation), annual growth in both total pay and regular pay is estimated to be 1.5% in the three months to January 2020, down from a recent peak of 2.0% in the three months to June 2019.