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Number of unemployed in the UK grew by 700

Wednesday, Oct 19 2016
Number of unemployed in the UK grew by 700

Between March to May 2016 and June to August 2016, the number of people in work and the number of unemployed people increased. The number of people not working and not seeking or available to work (economically inactive) fell. There were 31.81 million people in work, 106,000 more than for March to May 2016 and 560,000 more than for a year earlier.For September 2016 there were 776,400 people claiming unemployment related benefits. This was little changed (up 700) compared with August 2016 and 15,700 fewer than for a year earlier.

The unemployment rate was 4.9%, unchanged compared with March to May 2016 but down from 5.4% for a year earlier. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed. The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.5%, the joint highest since comparable records began in 1971.

 

Sterling is currently being traded around 1.2320 level. Pair is likely to find support around 1.2250 area and resistance near 1.2350 handle.

Last modified on Thursday, 20 October 2016
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