Latest pay and labour market statistics October 2020:
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 0.7% in September 2020, up from 0.5% in August 2020.
The Consumer Prices Index (CPI) 12-month rate was 0.5% in September 2020, up from 0.2% in August.
June to August 2020 figures show the unemployment rate and the number of redundancies continue to increase, while the employment rate continues to fall.
Although decreasing over the year, total hours worked had a record increase on the quarter, with the June to August period covering a time when a number of coronavirus lockdown measures were eased.
In September 2020, 20,000 more people were in payrolled employment when compared with August 2020 and 673,000 fewer people were in payrolled employment when compared with March 2020.
The Claimant Count increased in September 2020, reaching 2.7 million; this includes both those working with low income or hours and those who are not working.
After a record low of 343,000 vacancies in April to June 2020, there has been an estimated record quarterly increase of 144,000 to 488,000 vacancies in July to September 2020; vacancies remain below the pre-coronavirus (COVID-19) pandemic levels and are 332,000 (40.5%) less than a year ago.
Growth in average total pay (including bonuses) among employees for the three months June to August was unchanged from a year ago, while regular pay (excluding bonuses) growth was positive at 0.8%.