PAYstats Pay and Labour Market Statistics, September 2021

Latest Pay and Labour Market Statistics September 2021:

• The Consumer Prices Index (CPI) rose by 3.2% in the 12 months to August 2021, up from 2.0% in July.
• The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 3.0% in the 12 months to August 2021, up from 2.1% in the 12 months to July.
• The most recent data show the labour market continuing to recover.
• The number of payroll employees showed another monthly increase, up 241,000 to 29.1 million in August 2021, returning to pre-coronavirus (COVID-19) pandemic (February 2020) levels.
• In the latest period (May to July 2021), there was a quarterly increase in the employment rate of 0.5 percentage points, to 75.2%, and a decrease in the unemployment rate of 0.3 percentage points, to 4.6%.
• The number of job vacancies in June to August 2021 was 1,034,000, which is the first time vacancies have risen over 1 million since records began, and is now 249,000 above its pre-pandemic January to March 2020 level.
• Growth in average total pay (including bonuses) was 8.3% and regular pay (excluding bonuses) was 6.8% among employees for the three months May to July 2021. However, annual growth in average employee pay is being affected by temporary factors that have inflated the increase in the headline growth rate.