logo
  

U.K. Sep-Nov Jobless Rate Falls More Than Expected

The U.K. unemployment rate fell more than expected in the September to November period, data from the Office for National Statistics showed Wednesday.

The jobless rate fell to 5.8 percent during the September to November period from 6 percent in the June to August period. Economists had forecast a rate of 5.9 percent.

During September to November, there were 1.914 million unemployed people compared with the 1.972 million people in the June to August period.

In the same period of the previous year, there were 2.332 million unemployed people.

The claimant count rate fell to 2.6 percent in December as expected, from 2.7 percent in November. Confirming the economists' estimate.

The number of people claiming jobseeker's allowance decreased by 29,700 from November, while economists expected a decline of 25,000.

Average earnings rose 1.7 percent annually after the 1.4 percent increase in October, in line with the consensus estimate.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission or FTC, has sued Walmart for allowing its money transfer services to be used by fraudsters, who fleeced consumers out of hundreds of millions of dollars. The retail giant is alleged to have looked the other way to pocket millions in fees while scammers took advantage of its failure to properly secure the money transfer services offered at Walmart stores. Home improvement retailer Bed Bath & Beyond, Inc. (BBBY) reported on Wednesday a net loss for first quarter that sharply widened from last year, hurt by hefty transient costs related to inventory markdown reserves and port-related supply chain fees. Both adjusted loss per share and net sales missed analysts' expectations. Tesla Inc. laid off about 200 employees in its Autopilot unit as the luxury electric car maker closed down its office in San Mateo, California as part of cost cutting efforts, reports said. The San Mateo office, where employees worked on improving the driver assistance systems, marketed as Autopilot, had about 350 employees before the cut.
Follow RTT