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Pay and prices
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Latest pay deals

2.0% pay increase in the three months to July

The median increase in pay in the three months to July was 2.0% - the increase on the lowest pay rate was also 2.0%.

The median increase this payround (August-July) is also 2.0%.

Figures for August 2016 are due to be published on 13 September 2016.
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Average earnings

Growth up to 2.2% in June

In the year to June 2016, earnings growth for the whole economy (excluding bonuses) was up to 2.2% from the revised rise for May of 2.0%.

According to the Average Weekly Earnings data published by the Office for National Statistics, growth in the headline rate (the latest three-month average) for regular pay, excluding bonuses, was up to 2.3% in June from 2.2% for the previous month.

Headline average earnings growth in manufacturing was up to 2.4% from 2.2%, but growth in services was unchanged at 1.9%.

In the private sector as a whole, the growth was up to 2.4% from 2.3%. In the public sector, excluding financial services, growth was unchanged at 1.7%.

Figures for July 2016 are due to be published on 14 September 2016.
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Retail prices

RPI inflation rate up to 1.9% in the year to July 2016

In July, the Retail Prices Index (RPI) was up to 263.4 (January 1987=100) and the annual rate of inflation was up to 1.9% from 1.6% the previous month.

Under the Consumer Prices Index (CPI) - the government's preferred measure of inflation the annual inflation rate was up to 0.6% in July from 0.5% the previous month June.

Figures for August 2016 are due to be published on 13 September 2016.
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Unemployment

Unemployment down by 52,000 in the three months to June

UK unemployment under the Labour Force Survey count fell by 52,000 to 1,641,000 in the three-month period April - June 2016, compared with the previous three-month figure (January 2016 - March 2016) of 1,692,000.

The fall in numbers helped cut the unemployment rate to 4.9% from 5.1%

The Office for National Statistic's claimant count total includes people out of work and claiming Jobseeker's Allowance or Universal Credit.

In July 2016, the claimant count under this experimental statistic was 763,600 - an 8,600 fall on the heavily revised upwards total for June 2016 of 772,200.

Nevertheless, the joblessness rate was steady at 2.2%.

Figures for July 2016 (unemployment) and August 2016 (claimant count) are due out on 14 September 2016.
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Retail prices

Fall in retail price inflation

In July, the Retail Prices Index (RPI) stood at 281.7 (January 1987=100) and the annual rate of inflation decreased to 3.2% from 3.4% in June.

Under the Consumer Prices Index Housing (CPIH), the annual rate of inflation in July was steady at 2.3%.

Meanwhile, the annual rate of inflation under Consumer Prices Index (CPI) edged higher to 2.5% from 2.4%. This is the rate used by the Bank of England as its inflation target.

Figures for August 2018 are due to be published on 19 September 2018.

Latest pay deals

2.8% pay increase in the three months to July 2018

The median increase in pay in the three months to July 2018 was 2.8%. The median increase in the lowest pay rate was slightly higher at 2.9%

Figures for August 2018 are due to be published on 19 September 2018.

Pay deals are calculated from Payline database of over 2,000 pay and conditions settlements. graph of pay settlements and inflation

Average earnings

Earnings growth higher

In the year to July 2018, earnings for the whole economy, excluding bonuses, provisionally increased by 3.1% - up from the 2.8% increase for June.

Growth in the July headline rate (the latest three-month average) for regular pay, excluding bonuses, was 2.9% against 2.7% the previous month, according to the Office for National Statistics.

Headline average earnings growth in manufacturing was unchanged at 2.4%, while for services growth was up to 2.8% from 2.6%.

In the private sector as a whole, growth was up to 3.0% from 2.8%.

In the public sector, excluding financial services, growth was up to 2.5% from 2.3%.

Figures for August 2018 are due to be published on 16 October 2018.

Unemployment

Unemployment cut by 55,000 in the three months to July

In the three-month period ending July 2018, UK unemployment under the Labour Force Survey count fell by 55,000 to 1,361,000 from 1,416,000 for the previous three-month ending April 2018.

The fall in numbers was enough to cut the unemployment rate to 4.0% from 4.2%.

The Office for National Statistic's claimant count total includes people out of work and claiming Jobseeker's Allowance or Universal Credit.

Under this experimental statistic, the claimant count increased by 8,700 to 918,800 in August from the revised figure for July 2018 of 910,100.

The increase in numbers edged the joblessness rate higher to 2.6% from 2.5%.

Figures for August 2018 (unemployment) and September 2018 (claimant count) are due out on 16 October 2018.
 

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