United Kingdom Unemployment October 2016

United Kingdom

United Kingdom: Unemployment rate inches down in September

In October, jobless claims in the UK increased by 9,900 from the previous month, according to the Office for National Statistics (ONS). The print came in above the revised increase of 5,600 in jobless claims recorded in September (previously reported: 700 increase) and overshot the 2,000 increase in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—recorded 4.8% in September (the latest period for which data are available), thus inching down from August’s 4.9%. The reading did not meet market expectations, which had the unemployment rate remaining stable at 4.9%.

FocusEconomics Consensus Forecast panelists expect unemployment to average 5.2% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects the unemployment rate to increase to 5.5%, which is also unchanged from last month’s estimate.


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United Kingdom Unemployment Chart


United Kingdom Unemployment October 2016

Note: Three-month average of unemployment rate in %.
Source: Office for National Statistics (ONS).


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