UK Unemployment Rate fell to 5.4%

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Wednesday, Oct 14 2015

According to the latest release, for September 2015 there were 796,200 people claiming unemployment related benefits in the UK. This was up 4,600 from August 2015, thus missing forecasts on decline by 2,300. It was always down 159,800 from a year earlier, but 17,800 higher than the pre-downturn trough of 778,400 for February 2008.

The unemployment rate fell to 5.4%, lower than for March to May 2015 (5.6%) and for a year earlier (6.0%). Analysts were predicting no change. It has not been lower since March to May 2008. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) who were unemployed. Comparing June to August 2015 with a year earlier, pay for employees in Great Britain increased by 3.0% including bonuses and by 2.8% excluding bonuses.

After the data Sterling was pushed higher and is currently being traded around 1.5330 level. Pair is likely to find support around 1.5250 area and resistance near 1.54 handle. Later today, in the US session, US Retail Sales and PPI figures are scheduled for a release.

More in this category: « Chinese CPI increased less than expected Eurozone Industrial Production fell by 0.5% »

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