Unemployment in the United Kingdom - Statistics & Facts
Unemployment is one of the key indicators used to analyze a country’s prosperity and economic situation. Most commonly discussed in terms of the unemployment rate, the figure in the UK is, after growing to a post-financial crisis peak of 8.1 percent in 2011, gradually finding its way back down to pre-2009 levels. The most recent figure for 2016 shrank to 4.9 percent, the lowest rate in over 17 years
In the UK, unemployment varies from region to region. At 7.5 percent, the North East of England had the highest rate. In contrast, the relatively affluent South West has a rate of 4.9 percent (February 2014).
In addition to the overall rates and figures, differences between demographic groups were also apparent. Age is a key factor in unemployment, with youth data being of particular interest and a crucial indicator for the economic outlook.
In the United Kingdom, from the year 2000 to 2016, youth unemployment (18-24 year olds) grew by net 1.1 percent to 11.7 percent. By way of comparison, the unemployment rates for people aged 25 to 34 years in the United Kingdom shrank by 1.8 percent, to a rate of 4.4 percent in 2016, which was below the EU average; and of course far below the likes of Spain and Greece which in early 2017 had exceeded the 40 percent mark.
Differences can also be observed between men and women. Whilst both genders experienced a net decrease in unemployment rates of 0.5 percent from 2000 to 2016, a consistently higher share of men were unemployed.
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