OBR raises UK unemployment estimates amid ‘worrying’ increase in young people out of work

2026-03-03 - 18:43

Unemployment is now predicted to reach 5.3% this year, up from the previous forecast of 4.9% Unemployment in the UK is set to peak this year at a higher rate than previously estimated, with a “worrying” increase in young people being out of work, the government’s official forecaster has said. The Office for Budget Responsibility (OBR) said unemployment will peak at 5.3% this year, up from its previous forecast in November of 4.9%. Continue reading...