PAYstats Pay and Labour Market Statistics, May 2023

Latest pay and labour market statistics May 2023:

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 7.8% in the 12 months to April 2023, down from 8.9% in March.
• The Consumer Prices Index (CPI) rose by 8.7% in the 12 months to April 2023, down from 10.1% in March.
• The UK employment rate was estimated at 75.9% in January to March 2023, 0.2 percentage points higher than October to December 2022.
• The unemployment rate for January to March 2023 increased by 0.1 percentage points on the quarter to 3.9%.
• In February to April 2023, the estimated number of vacancies fell by 55,000 on the quarter to 1,083,000.
• Growth in average total pay (including bonuses) was 5.8% and growth in regular pay (excluding bonuses) was 6.7% among employees in January to March 2023.