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.