PAYstats Pay and Labour Market Statistics, March 2023

Latest pay and labour market statistics March 2023:

• The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 9.2% in the 12 months to February 2023, up from 8.8% in January.
• The Consumer Prices Index (CPI) rose by 10.4% in the 12 months to February 2023, up from 10.1% in January.
• The UK employment rate was estimated at 75.7% in November 2022 to January 2023, 0.1 percentage points higher than the previous three-month period.
• The unemployment rate for November 2022 to January 2023 was largely unchanged on the quarter at 3.7%.
• In December 2022 to February 2023, the estimated number of vacancies fell by 51,000 on the quarter to 1,124,000.
• Growth in average total pay (including bonuses) was 5.7% and growth in regular pay (excluding bonuses) was 6.5% among employees in November 2022 to January 2023.