FX.co ★ UK Jobless Rate Highest Since 2021

The United Kingdom's unemployment rate rose slightly to 4.5% from January to March 2025, up from 4.4% where it had held steady for the previous four quarters. This increase aligns with market expectations and represents the highest unemployment level since the quarter ending in August 2021. The rise includes an increase in the number of people unemployed for periods up to 6 months, 6 to 12 months, and over 12 months. Conversely, the number of employed individuals grew by 112,000, reaching 33.98 million, even though this growth is the smallest since the quarter ending December 2024, primarily due to a decrease in full-time employment. Additionally, there was an uptick in the number of individuals taking on second jobs, which now constitutes 3.9% of the workforce. The rate of economic inactivity fell by 0.2 percentage points, bringing it down to 21.4%.