PAYstats Pay and Labour Market Statistics, November 2020

Latest pay and labour market statistics November 2020:

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 0.9% in October 2020, up from 0.7% in September 2020.
• The Consumer Prices Index (CPI) 12-month rate was 0.7% in October 2020, up from 0.5% in September.
• The UK employment rate in the three months to September 2020 was estimated at 75.3%, 0.8 percentage points lower than a year earlier and 0.6 percentage points lower than the previous quarter.
• The UK unemployment rate in the three months to September 2020 was estimated at 4.8%, 0.9 percentage points higher than a year earlier and 0.7 percentage points higher than the previous quarter.
• In the three months to September 2020, redundancies reached a record high of 314,000; an increase of a record 181,000 on the quarter.
• The Claimant Count dropped slightly in October 2020, to 2.6 million.
• There were an estimated 525,000 vacancies in the UK in August to October 2020; this is 278,000 fewer than a year ago and 146,000 more than the previous quarter.
• Growth in average total pay (including bonuses) among employees for the three months July to September 2020 increased to 1.3%, and growth in regular pay (excluding bonuses) also increased, to 1.9%.