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MNI BRIEF: UK Unemployment Revised Lower

(MNI) LONDON
(MNI) London

ONS reweighting shows unemployment lower, but it urges caution.

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Reweighted UK labour market data showed unemployment lower than previously thought in the three months to November, the Office for National Statistics said on Monday, an outcome that will muddy the water further for the Bank of England as it moves towards its first rate cut of the cycle.

Unemployment in the three months to November was 3.9%, rather than the 4.2% previously reported, the ONS said. The rate for the three months to October was 4.0% against 4.2%, whilst other data were little changed.

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Reweighted UK labour market data showed unemployment lower than previously thought in the three months to November, the Office for National Statistics said on Monday, an outcome that will muddy the water further for the Bank of England as it moves towards its first rate cut of the cycle.

Unemployment in the three months to November was 3.9%, rather than the 4.2% previously reported, the ONS said. The rate for the three months to October was 4.0% against 4.2%, whilst other data were little changed.

Keep reading...Show less