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UK Unemployment Rate fell to 4.8%

Wednesday, Nov 16 2016
UK Unemployment Rate fell to 4.8%

For October 2016 there were 803,300 people claiming unemployment-related benefits. This consisted of 541,300 people claiming Jobseeker’s Allowance, 262,000 people who were seeking work and claiming Universal Credit. For October 2016 there were 803,300 people claiming unemployment-related benefits. This was 9,800 more compared with September 2016 and 9,900 more than for a year earlier.

The unemployment rate was 4.8%, down from 5.3% for a year earlier and the lowest since July to September 2005. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed. Average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 2.3% including bonuses and by 2.4% excluding bonuses compared with a year earlier.

 

Sterling is currently being traded 1.2450 handle. Pair is likely to find support around 1.2380 area and resistance above 1.25 level.

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