Unemployment Rate

Unemployment rates in London have tracked a little higher than those for the UK overall, standing at 5.0 per cent and 3.7 per cent respectively for 2023. Unemployment rose at the start of the pandemic but stayed significantly lower than during the financial crisis. Between 2022 and 2023, unemployment rose both in London and across the UK – the UK rate is below the pre-pandemic rate in 2019, though in London has risen above the pre-pandemic low in 2019. However, these overall figures mask some large differences between sub groups of the population.

Unemployment rates were lowest among White men and women, Indian men, Pakistani and Bangladeshi men and other ethnic group men, with the highest rates recorded among men from Mixed ethnic groups in London in 2023. However, these estimates are based on relatively small numbers so should be treated with some caution.