The UK unemployment rate stood at 3.8 percent in the three months to October 2019, the lowest level since early 1975 and in line with market expectations. The number of people out of work declined by 7,000 to 1.306 million while the number of employed people rose by 208,000 to 32.901 million, the biggest increase since the three months to January 2019 and well above forecasts of 104,000. Total pay growth stood at 3.2 percent, the slowest pace since the three months to September 2018, but slightly above market expectations of 3.1 percent. Excluding bonuses, which smoothes out some volatility, pay growth slowed to 3.4 percent.
Unemployment Rate in the United Kingdom averaged 6.95 percent from 1971 until 2019, reaching an all time high of 12 percent in February of 1984 and a record low of 3.40 percent in November 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. source: Office for National Statistics
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. Looking forward, we estimate Unemployment Rate in the United Kingdom to stand at 3.80 in 12 months time. In the long-term, the United Kingdom Unemployment Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.