The unemployment rate in the UK edged up to 5 percent in the three months to November of 2020 from 4.9 percent in the previous period and slightly below forecasts of 5.1 percent. It is the 5th consecutive month of rising unemployment to a new high since the three months to August 2016, as a number of coronavirus lockdown measures were reintroduced. The employment rate continued to fall to 72.5 percent, the number of redundancies reached a record high of 14.2 thousand and vacancies fell to 578 thousand. Also, the number of people away from work because of the pandemic and receiving no pay has risen slightly over the last month. source: Office for National Statistics
Unemployment Rate in the United Kingdom averaged 6.86 percent from 1971 until 2020, 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 February of 2021.
Unemployment Rate in the United Kingdom is expected to be 7.80 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 7.40 in 12 months time. In the long-term, the United Kingdom Unemployment Rate is projected to trend around 5.50 percent in 2022, according to our econometric models.