Number of unemployed in Great Britain down by 26,900

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Wednesday, Dec 17 2014

According to the latest release Claimant Count was down by 26,900 from October 2014, beating market expectations on decrease by 19, 400. It was also down by 368,000 from a year earlier, but 121,700 higher than the pre-downturn trough of 778,400 for February 2008. On the other hand unemployment rate for those aged 16 and over for October 2014 was 6.0%, up from 5.9% in September. Analysts were anticipating no change.

Total pay for employees in Great Britain was 1.4% higher than a year earlier, above market forecasts on 1.3% growth. Comparing single month annual growth rates for October 2014 with those for September 2014, higher growth rates were recorded in October for the private sector (particularly for finance and business services) but lower growth rates were recorded for the public sector.

After the data Sterling initially went down but managed to rebound and is currently being traded around 1.5720 level. Later today, in the US session, CPI data is scheduled for a release, while we can expect a lot of volatility coming from Fed interest rate decision and the following statement.

More in this category: « Building Permits and Housing Starts in line with market forecast BoE left interest rates unchanged opting for stronger wage growth »

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