PAYstats Pay and Labour Market Statistics, March 2021

Latest Pay and Labour Market Statistics March 2021:

• The Consumer Prices Index (CPI) rose by 0.4% in the 12 months to February 2021, down from 0.7% to January 2021.
• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 0.7% in the 12 months to February 2021, down from 0.9% to January.
• The UK employment rate, in the three months to January 2021, was estimated at 75.0%, 1.5 percentage points lower than a year earlier and 0.3 percentage points lower than the previous quarter.
• The UK unemployment rate, in the three months to January 2021, was estimated at 5.0%, 1.1 percentage points higher than a year earlier and 0.1 percentage points higher than the previous quarter.
• The redundancy rate, in the three months to January 2021, was estimated at 11.0 people per thousand employees.
• There were an estimated 601,000 vacancies in the UK in December 2020 to February 2021; this is 220,000 fewer than a year ago and the rate of increase in vacancies has slowed strongly in recent months.
• Year on year, growth in total pay (including bonuses) increased 4.4%, and growth in regular pay (excluding bonuses) also increased 4.1%.