United Kingdom Unemployment

United Kingdom

United Kingdom: Unemployment falls further hitting over-five-year low

July 16, 2014

In June, jobless claims fell 36,300 over the previous month according to the Office for National Statistics (ONS). The print was down from the revised 32,800 drop recorded in May (previously reported: -27,400) and exceeded the 27,000 decrease in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—fell to 6.5% in the three months up to May, which was down from the 6.6% tallied in the three months up to April. The figure was in line with market expectations and marked the lowest unemployment rate since December 2008.

FocusEconomics Consensus Forecast panelists expect unemployment to average 6.7% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel expects the unemployment rate to drop to 6.3%.


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United Kingdom Unemployment Chart

United Kingdom Unemployment June 2014

Note: Three-month average of unemployment rate in %.
Source: Office for National Statistics (ONS).

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