The unemployment rate in the UK edged up to 4.8% in the three months to May of 2021, compared to market forecasts of 4.7 percent. The employment rate fell to 74.8 percent from 75.2 percent and the labor force participation rate also declined to 78.7 percent from 79 percent. With the relaxation of many coronavirus restrictions, total hours worked increased on the quarter, however it is still below pre-pandemic levels. The number of employees on British company payrolls surged by 356,000, the biggest increase since the start of the coronavirus pandemic. The redundancy rate decreased on the quarter and has returned to pre-pandemic levels. There were 862,000 job vacancies in April to June 2021 - 77,500 above its pre-pandemic level in January to March 2020. All but one industry saw quarterly increases in their number of vacancies. Growth in average total pay (including bonuses) was at a record 7.3 percent and excluding bonuses was 6.6 percent among employees for March to May 2021. source: Office for National Statistics
Unemployment Rate in the United Kingdom averaged 6.84 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 July of 2021.
Unemployment Rate in the United Kingdom is expected to be 4.80 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 4.70 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.