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Unemployment rate forecast United Kingdom 2017-2023

Forecasted unemployment rate in the United Kingdom (UK) from 2017 to 2023

by Daniel Clark, last edited Aug 9, 2019
Unemployment rate forecast United Kingdom 2017-2023 Between 2019 and 2023 the unemployment rate of the United Kingdom is forecasted to drop from 4.1 percent to just 4 percent. A common indicator of an economy’s relative health, the unemployment rate has been falling in the United Kingdom since it’s 2011 peak of 8.1 percent.
UK firms continue to invest in its workforce
The unemployment rate of 4 percent predicted in this forecast certainly signals optimism in the UK employment market. If anything, the predictions might not be optimistic enough, with the unemployment rate falling to a low of just 3.8 percent in the first quarter of 2019.

Brexit and unemployment
Brexit’s potential impact on unemployment is uncertain and will likely be heavily influenced by what kind of trading relationship the UK and the European Union agree upon. In the event of a no-deal Brexit, the Bank of England forecasted that the Unemployment rate could peak at 7.5 percent.
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Forecasted unemployment rate in the United Kingdom (UK) from 2017 to 2023

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