United Kingdom Unemployment

United Kingdom

United Kingdom: Unemployment in December falls to its lowest level in over six years

February 18, 2015

In January, jobless claims fell 38,600 over the previous month, according to the Office for National Statistics (ONS). The print represented a slightly bigger drop than the revised 35,800 decrease recorded in December (previously reported: -29,700) and exceeded the 25,000 decrease in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—fell from 5.8% in November to 5.7% in December (the latest period for which data are available), thus reaching the lowest level since August 2008. The figure undershot market expectations which had the unemployment rate remaining at December’s 5.8%.

FocusEconomics Consensus Forecast panelists expect unemployment to average 5.6% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects the unemployment rate to inch down to 5.5%.

Author:, Senior Economist

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United Kingdom Unemployment Chart

United Kingdom Unemployment January 2015

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

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