United Kingdom: Unemployment inches down in November
December 16, 2015
In November, jobless claims rose 3,800 over the previous month, according to the Office for National Statistics (ONS). The print was above the revised increase of 200 in jobless claims recorded in October (previously reported: 3,300 increase) and overshot the 1,500 increase in jobless claims the markets had expected.
The unemployment rate—derived from a different survey—inched down from 5.3% in September to 5.2% in October (the latest period for which data are available). October’s figure marked the lowest reading in nearly eight years. The figure surprised the markets, which had expected the unemployment rate to remain stable at 5.3%.
Author: Dirina Mançellari, Senior Economist