U.K. September Labor Report shows modest recovery

The headline ILO unemployment rate in the United Kingdom edged down to 5.3% in September. Consensus expected the figure to remain steady at 5.4%. Total unemployment recorded a fall of 103k from 1,774k in August, which largest drop in a year.

Unemployment in the prime category age group of 25-49, consists of the bulk of the working age population, reported its first increase since June 2015, rising by 9k from 759k in August. However, it is nonetheless approaching its pre-crisis average level after a steep decline in unemployment since the start of 2013, says Barclays. 

The claimant count measure increased by 3.3k in October, marginally stronger than consensus expectations of 1.4k, although the September claimant count measure was significantly revised downward from +4.6k to +0.5k.