Downward unemployment trend continues in October – BIEC

The Labor Market Indicator (WRP), which gives advance indication about future changes in the unemployment rate, fell in October by 0.7 percent, the Bureau for Investments and Economic Cycles (BIEC) announced.

The most recent values of the WRP were 75.05 points in August and 74.37 in September.

The rate of decline was at a similar level as in the previous month and slightly higher than at the end of Q2 and the start of Q3 of this year. Factors contributing to a further lowering of the WRP are still predominant, thus predicting a fall in the unemployment rate,” BIEC stated.

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