PAYstats Pay and Labour Market Statistics, February 2021

Latest Pay and Labour Market Statistics February 2021:

• The Consumer Prices Index (CPI) rose 0.7% in the 12 months to January 2021, up from 0.6% to December 2020; on a monthly basis, CPI fell by 0.2% in January 2021, following a 0.3% rise in December 2020.
• The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose 0.9% in the 12 months to January 2021, up from 0.8% to December 2020.
• The UK employment rate, in the three months to December 2020, was estimated at 75.0%, 1.5 percentage points lower than a year earlier and 0.3 percentage points lower than the previous quarter.
• The UK unemployment rate, in the three months to December 2020, was estimated at 5.1%, 1.3 percentage points higher than a year earlier and 0.4 percentage points higher than the previous quarter.
• The redundancy rate, in the three months to December 2020, was estimated at 12.3 people per thousand employees.
• The Claimant Count increased in January 2021, to 2.6 million; this includes both those working with low income or hours, and those who are not working.
• There were an estimated 599,000 vacancies in the UK in November 2020 to January 2021; this is 211,000 fewer than a year ago and 64,000 more than the previous quarter.
• Year on year, growth in total pay (including bonuses) increased 5.4%, and growth in regular pay (excluding bonuses) also increased 4.5%.