United Kingdom Unemployment

United Kingdom

United Kingdom: Unemployment inches down in February

April 17, 2015

In March, jobless claims fell 20,700 over the previous month, according to the Office for National Statistics (ONS). The print represented a smaller drop than the revised 29,100 decrease recorded in February (previously reported: -31,000) and was less than the 29,500 decrease in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—inched down from 5.7% in January to 5.6% in February (the latest period for which data are available), the lowest level since July 2008. The figure met market expectations.

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 March 2015 0

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

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