United Kingdom: Unemployment falls to lowest rate in nearly six years
October 15, 2014
In September, jobless claims fell 18,600 over the previous month, according to the Office for National Statistics (ONS). The print was smaller than the revised 33,200 drop recorded in August (previously reported: -37,200) and did not reach the 35,000 decrease in jobless claims the markets had expected.
The unemployment rate—derived from a different survey—fell to 6.0% in the three months up to August, (the latest period for which data are available) which was down from the 6.2% tallied in the three months up to July. The figure slightly undershot the 6.1% rate the market had expected and marked the lowest rate since November 2008.
Author: Dirina Mançellari, Senior Economist