Quarterly PAYstats Pay and Labour Market Statistics, January 2021

Latest pay and labour market statistics January 2021:

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 0.8% in December 2020, up from 0.6% in November.
• The Consumer Prices Index (CPI) 12-month rate was 0.6% in December 2020, up from 0.3% in November.
• The UK employment rate, in the three months to November 2020, was estimated at 75.2%, 1.1 percentage points lower than a year earlier and 0.4 percentage points lower than the previous quarter.
• The UK unemployment rate, in the three months to November 2020, was estimated at 5.0%, 1.2 percentage points higher than a year earlier and 0.6 percentage points higher than the previous quarter.
• In the three months to November 2020, the redundancy rate reached a record high of 14.2 per thousand.
• The Claimant Count increased slightly in December 2020, to 2.6 million.
• There were an estimated 578,000 vacancies in the UK in October to December 2020; this is 224,000 fewer than a year ago and 81,000 more than the previous quarter.
• Growth in average total pay (including bonuses) among employees for the three months September to November 2020 increased to 3.6%, and growth in regular pay (excluding bonuses) also increased to 3.6%.