Q3 Unemployment 4.8%
Monday, November 21, 2016 at 8:12PM Click here for our Clash of the Titans page.
Q3 '16 Unemployment: 4.8%
Average Prediction: 5.2%
Number of Correct Forecasts: 31/558
Highest Oil Price: $53 (8th Jun)
Competition Progress: 96.2% complete
The unemployment rate in the third quarter of the year was 4.8%, slightly lower than the second quarter of 2016. Through the year the unemployment rate has fallen slightly, from an original figure of 5.1% in the fourth quarter of 2015.
The majority of people made pessimistic forecasts of the unemployment rate, as the unemployment rate was not expected to fall as quickly as it did. 87% of people predicted unemployment to be higher than it actually was, whilst only 6% made accurate predictions.
Similarly to last quarter’s predictions, none of the Titans managed to accurately forecast this quarter’s unemployment rate. Sean Holly (Cambridge) came closest with a prediction of 5.1% although this was some way off the actual figure. LSE’s Rain Newton-Smith forecast a rate of 5.3% while Oxford’s Jonathan Portes predicted 5.2%.
Click here for a summary of the results so far, or here for the full standings.
Reader Comments