United Kingdom: Unemployment rate inches down in September
November 16, 2016
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%.
Author: Dirina Mançellari, Senior Economist