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What has been driving it? What is your short-term forecast?
The unemployment rate can be defined as the number of people actively looking for a job divided by the labour force. Changes in unemployment depend mostly on inflows made up of non-employed people starting to look for jobs, of employed people who lose their jobs and look for new ones and of people who stop looking for employment. Related terms are the labour force, the participation rate and the employment rate. The labour force is defined as the number of people employed plus the number unemployed but seeking work. The non-labour force includes those who are not looking for work, those who are institutionalised such as in prisons or psychiatric wards, stay-at home spouses, children, and those serving in the military. The participation rate is the number of people in the labour force divided by the population of working age that is not institutionalised. The employment rate is defined as the number of people currently employed divided by the population of working age. TOP NEWS| China's Inflation Rises to 2% in November
The Consumer Price Index, a key inflation measure, rose to 2 percent in November from a year ago, the National Bureau of Statistics reported on December 10th. | China’s Economy Will Expand 8% in Medium Term
In the third quarter of 2012, China GDP had grown by 7.4 percent year on year and 2.2 percent seasonally adjusted quarter on quarter. And although the annual expansion was the slowest since 2009, the quarterly change has shown some improvement, giving many investors and economists sense of relief. | U.S. Unemployment Down to 7.7 Percent in November
Total nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported on December 7th. Employment increased in retail trade, professional and business services, and health care. | Canada's Unemployment Decreased to 7.2% in November
The unemployment rate declined 0.2 percentage points from 7.4% in October to 7.2% in November. | Australia Trade Deficit Widens in October 2012
In seasonally adjusted terms, the balance on goods and services was a deficit of $2,088m in October 2012, a rise of $668m (47 percent) on the deficit in September 2012. | ECB Keeps Rates Unchanged
At meeting on December 6th, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively. | Bank of England Keeps Monetary Policy Unchanged
Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Programme at £375 billion. | Euro Area GDP Down by 0.1 Percent in Q3
GDP fell by 0.1 percent in the euro area(EA17) and increased by 0.1 percent in the EU27 during the third quarter of 2012, compared with the previous quarter, according to flash estimates...