The unemployment rate in the UK increased to 4.9 percent in the three months to October of 2020, compared to 4.8 percent in the previous period and below forecasts of 5.1 percent. It is the highest jobless rate since the three months to August 2016, as the coronavirus continued to hit the labour market. The redundancies reached a record high of 370,000, and the employment rate continued to fall to 75.2 percent. At the same time, total hours worked had a record increase from the low levels in the previous quarter as the number of coronavirus lockdown measures were eased early in August and September. On a positive note, the number of people away from work because of the pandemic and receiving no pay has fallen since its peak in April and May 2020. 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 December of 2020.
Unemployment Rate in the United Kingdom is expected to be 7.50 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 7.90 in 12 months time. In the long-term, the United Kingdom Unemployment Rate is projected to trend around 7.40 percent in 2021 and 5.50 percent in 2022, according to our econometric models.