Quarterly PAYstats Pay and Labour Market Statistics, January 2022

Latest pay and labour market statistics January 2022:

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 4.8% in the 12 months to December 2021, up from 4.6% in the 12 months to November.
• The Consumer Prices Index (CPI) rose by 5.4% in the 12 months to December 2021, up from 5.1% in November.
• The UK employment rate increased by 0.2 percentage points on the quarter to 75.5.
• The unemployment rate decreased by 0.4 percentage points on the quarter to 4.1%. The redundancy rate decreased to a record low following the end of the Coronavirus Job Retention Scheme.
• The number of job vacancies in October to December 2021 rose to a new record of 1,247,000, an increase of 462,000 from its pre-coronavirus January to March 2020 level.
• Growth in average total pay (including bonuses) was 4.2% and growth in regular pay (excluding bonuses) was 3.8% among employees in September to November 2021.