The unemployment rate in the United Kingdom came in at 3.7 percent in November 2022 to January 2023, largely unchanged compared with the previous three-month period and slightly below market consensus of 3.8 percent. It remained also 0.3 percentage points below pre-pandemic levels. The number of unemployed people rose by 5 thousand to 1.25 million, while employment levels increased by 65 thousand to 32.84 million, driven by part-time employees and self-employed workers. Total pay growth eased to 5.7 percent year-on-year in the three months to January, while in real terms, wages dropped by 3.2 percent, the largest decline since the February to April 2009 period. source: Office for National Statistics
Unemployment Rate in the United Kingdom averaged 6.75 percent from 1971 until 2023, reaching an all time high of 11.90 percent in April of 1984 and a record low of 3.40 percent in December of 1973. This page provides the latest reported value for - United Kingdom Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
Unemployment Rate in the United Kingdom is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Unemployment Rate is projected to trend around 5.00 percent in 2024 and 5.20 percent in 2025, according to our econometric models.