United Kingdom Unemployment January 2016

United Kingdom

United Kingdom: Unemployment remains unchanged in December

January 20, 2016

In January, jobless claims fell 14,800 over the previous month, according to the Office for National Statistics (ONS). The print followed the revised decrease of 15,200 in jobless claims recorded in December (previously reported: -4,300 increase) and overshot the 3,000 decrease in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—was stable at the previous month’s 5.1% in December (the latest period for which data are available), thus remaining at a multi-year low. The figure surprised the markets, which had expected the unemployment rate to tick down to 5.0%.

FocusEconomics Consensus Forecast panelists expect unemployment to average 5.5% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects the unemployment rate to inch down to 5.2%.

Author:, Senior Economist

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United Kingdom Unemployment Chart

United Kingdom Unemployment January 2016

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

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