United Kingdom Unemployment August 2016

United Kingdom

United Kingdom: Unemployment rate stable in July

September 14, 2016

In August, jobless claims increased by 2,400 over the previous month, according to the Office for National Statistics (ONS). The print contrasted the revised decrease of 3,600 in jobless claims recorded in July (previously reported: 8,600 decrease) and overshot the 1,800 increase in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—was stable at 4.9% in July (the latest period for which data are available), in line with June’s reading. The unemployment rate is resting at an over-ten-year low. The reading met market expectations.

FocusEconomics Consensus Forecast panelists expect unemployment to average 5.2% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects the unemployment rate to increase to 5.7%.

Author:, Senior Economist

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United Kingdom Unemployment Chart

United Kingdom Unemployment August 2016

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

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