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Unemployment Rate (UK)

Unemployment Rate Remains at 5.2% in Australia

Starts Thursday, August 15, 2019 at 01:30
Updated Thursday, August 15, 2019
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The unemployment rate was holding steady at 5.6% on average during 2017 in Australia. Although in June last year, the unemployment rate declined to 5.4% and it remained at that level in July as well. In August unemployment fell again to 5.3%, but it remained unchanged in September. October's report showed a surprising decline to 5.0%. In November, the unemployment was expected to remain unchanged at 5.0%, but it ticked higher to 5.1%. In December we saw the opposite happen as unemployment was expected to remain at 5.1%, but instead it declined to 5.0% and remained the same in  January as well. In February we saw another decline to 4.9% which came as a bit of a surprise, but the unemployment rate ticked higher to 5.0% again in March which was revised higher to 5.1%. In April we saw another increase to 5.2%, so the economic weakness is also being felt in employment. In May, the unemployment rate was expected to decline to 5.1%, but it missed expectations and remained at 5.2% and it didn't change in June either. Please follow us for live coverage of this event by experienced market analysts.

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About Unemployment Rate (UK)
The U.K. Unemployment Rate is calculated and released by the Office for National Statistics. It is a statistic that measures the ongoing levels of unemployed individuals in the domestic workforce. Unemployment rates are derived by dividing the number of unemployed workers by the entire non-military labor pool. It is intended to measure the percentage of people willing to work and actively seeking jobs.As a general rule, high unemployment rates are found in recessionary economic cycles while low rates are common in periods of growth. Monetary policy decisions take into account the Unemployment Rate as a leading metric of economic performance. Low unemployment leads to inflation and a tightening of monetary policy, while higher rates are seen as a precursor to prolonged deflation.Traders look upon the release of U.K. Unemployment as an important metric facing the U.K. economy. Abnormal levels are viewed as being likely catalysts for policy change, with U.K. indices and GBP being highly sensitive to its release.
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