A rise of 2.6% in May, leaving the annual rate of decline at 16.3%. The three month average - a more reliable manner of reading the figures - shows a big cut in the rate of decline, from 6%-ish to 3.1%. Following a host of other positive data releases in recent weeks, the report's bound to be read as a sign of stabilisation in the market. We say, watch unemployment figures closely.

Positive data crunching continues [June 3, 2009]

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