The United Kingdom's unemployment rate rose to 4.2% from December 2023 to February 2024, up from 3.9% in the three months to November and exceeding the market consensus of 4.0%. The number of unemployed individuals increased by 85,000 to a total of 1.44 million, driven by those unemployed for over 6 and up to 12 months and those unemployed for over 12 months. Meanwhile, the number of employed individuals fell by 156,000 to 32.98 million, primarily due to a decrease in part-time employees. Conversely, the number of full-time workers increased during the quarter, as did the number of people in employment with second jobs, accounting for 3.6% of all employed individuals. Finally, the economic inactivity rate rose by 0.3 percentage points to 22.2%. source: Office for National Statistics
Unemployment Rate in the United Kingdom increased to 4.20 percent in February from 4 percent in January of 2024. Unemployment Rate in the United Kingdom averaged 6.71 percent from 1971 until 2024, 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 April of 2024.
Unemployment Rate in the United Kingdom increased to 4.20 percent in February from 4 percent in January of 2024. Unemployment Rate in the United Kingdom is expected to be 4.50 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 2025 and 5.20 percent in 2026, according to our econometric models.