The unemployment rate in the UK unexpectedly edged down to 4.8% in the three months to March of 2021, lower than market forecasts of 4.9% as wage support for furloughed workers remained in place. The jobless rate was also 0.3 percentage points lower than in three months to December, the largest quarterly decrease since September to November 2015. The country was under a strict coronavirus lockdown in the January-March period but started lifting some restrictions in March. Meanwhile, employment surged 84,000, the first gain since the pandemic, the number of people on payrolls rose 97,000, and vacancies increased 13%. Also, the employment rate was estimated at 75.2%, 1.4 percentage points lower than before the pandemic but 0.2 percentage points higher than the previous quarter. The economic inactivity rate was 21%, 0.8 percentage points higher than December 2019 to February 2020 and 0.1 percentage point higher than the previous quarter. source: Office for National Statistics
Unemployment Rate in the United Kingdom averaged 6.85 percent from 1971 until 2021, 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 June of 2021.
Unemployment Rate in the United Kingdom is expected to be 5.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in the United Kingdom to stand at 4.90 in 12 months time. In the long-term, the United Kingdom Unemployment Rate is projected to trend around 4.60 percent in 2022 and 4.40 percent in 2023, according to our econometric models.