Don’t forget, there’s a huge difference between unemployment numbers and economically inactive numbers. The 16-64 age group has an unemployment number of 1.4M, give or take. Working population (16-64), in work is about 32million, giving an ‘employment rate’ of about 75% but an ‘unemployment rate’ of 4.5%.
What we don’t do is class the economically inactive (not actively looking for work in the last 4 weeks or unable to start work in the next 2 weeks) as unemployed. So, 25% of the people aged 16-64 don’t have a job, but we have ‘full employment’.