Quarterly PAYstats Pay and Labour Market Statistics, July 2020

Latest pay and labour market statistics July 2020:

• The Consumer Prices Index including owner occupiers' housing costs (CPIH) 12-month inflation rate was 0.8% in June 2020, up from 0.7% in May 2020.
• The Consumer Prices Index (CPI) 12-month rate was 0.6% in June 2020, up from 0.5% in May.
• March to May figures show weakening employment rates, with self-employed and part-time workers seeing reductions; despite these falls, unemployment is not rising, because of increases in people out of work, but not currently looking for work; the reduction in total hours worked is a record both on the year and the quarter despite a third of the period covered being prior to the implementation of coronavirus (COVID-19) measures.
• Early estimates for June 2020 from Pay As You Earn Real Time Information (PAYE RTI) indicate that the number of payroll employees fell by 2.2% (649,000) compared with March 2020.
• The Claimant Count fell slightly in June 2020 reaching 2.6 million; this includes both those working with low income or hours and those who are not working.
• Vacancies in the UK in April to June 2020 are at the lowest level since the Vacancy Survey began in April to June 2001, at an estimated 333,000; this is 23% lower than the previous record low in April to June 2009.
• The three months to May 2020 saw strong falls in pay; total pay fell by 0.3% on the year, this equates to a fall of 1.3% when taking into account inflation.