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16.12.2015 10:35

U.K. unemployment rate declines to 5.2% in the August to October quarter

The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate fell to 5.2% in the August to October quarter from 5.3% in the July to September quarter. It was the lowest reading since three months to January 2006.

Analysts had expected the unemployment rate to remain unchanged at 5.3%.

The claimant count rose by 3,900 people in November, beating expectations for a rise by 1,500, after an increase of 200 people in October. October's figure was revised down from a 3,300 increase.

U.K. unemployment in the July to September period dropped by 110,000 to 1.71 million from the previous quarter.

Average weekly earnings, excluding bonuses, climbed by 2.0% in the August to October quarter, missing expectations for a 2.0% rise, after a 2.4% gain in the July to September quarter. The previous quarter's figure was revised down from a 2.5% increase.

Average weekly earnings, including bonuses, rose by 2.4% in the August to October quarter, missing expectations for a gain of 2.5%, after a 3.0% increase in the July to September quarter.

The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.

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