Quarterly PAYstats Pay and Labour Market Statistics, April 2020

Latest Pay and Labour Market Statistics April 2020:

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 1.5% in March 2020, down from 1.7% in February 2020.
• The Consumer Prices Index (CPI) 12-month rate was 1.5% in March 2020, down from 1.7% in February.
• The UK employment rate in the three months to February 2020 was estimated at a record high of 76.6%, 0.4 percentage points higher than a year earlier and 0.2 percentage points up on the previous quarter.
• The UK unemployment rate for the three months to February 2020 was estimated at 4.0%, largely unchanged compared with a year earlier and 0.1 percentage point higher than the previous quarter.
• In real terms (after adjusting for inflation), annual growth is estimated to be 1.2% in total pay and 1.3% in regular pay in the three months to February 2020, both down from a recent peak of 2.0% in the three months to June 2019.