United Kingdom Unemployment

United Kingdom

United Kingdom: Unemployment inches down in October

November 11, 2015

In October, jobless claims rose 3,300 over the previous month, according to the Office for National Statistics (ONS). The print was above the revised increase of 500 in jobless claims recorded in September (previously reported: 4,500 increase) and overshot the 1,500 increase in jobless claims the markets had expects.

The unemployment rate—derived from a different survey—inched down from 5.4% in August to 5.3% in September (the latest period for which data are available). The figure surprised the markets, which had expected the unemployment rate to remain stable at 5.4%.

FocusEconomics Consensus Forecast panelists expect unemployment to average 5.5% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects the unemployment rate to inch down to 5.2%, which is also unchanged from last month’s forecast.

Author:, Senior Economist

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United Kingdom Unemployment Chart

United Kingdom Unemployment October 2015

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

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