United Kingdom Unemployment

United Kingdom

United Kingdom: Unemployment stable at lowest rate in nearly six years

December 17, 2014

In November, jobless claims fell 26,900 over the previous month, according to the Office for National Statistics (ONS). The print represented a bigger drop than the revised 25,100 decrease recorded in October (previously reported: -20,400) and exceeded the 20,000 decrease in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—was stable in October at September’s 6.0% (the latest period for which data are available), thus remaining at the lowest level in nearly six years. The figure slightly overshot the 5.9% rate the market had expected.

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 November 2014

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

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