Q3 Unemployment falls to 7.8%

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The unemployment rate continued to fall for a third consecutive quarter in Q3 of 2012, against most people's expectations when they gave us their predictions back at the end of 2011.  Over 90% of entrants thought that Q3 unemployment would be above 7.8%, and only 5 people predicted correctly.

All three professors in the Clash of the Titans competition predicted higher unemployment this quarter than the out-turn, with Professor Muellbauer from Oxford the closest with 8.2%.  This result means he has confirmed his place as the winner of our competition.  Can Oxford make it two years in a row at this year's Clash of the Titans, or will Cambridge, LSE or newcomers CKGSB be able to topple them?

In our public competition, despite a comeback from long-term leader Siva Sabaratnam, Peter Henderson managed to hold on to first place (you can see full final listings here).  Congratulations and thank you to everyone who took part.  We hope you will share your forecast with us again this year (we are now accepting entries here)!

Tickets for the next Clash of the Titans event, to be held on the 4th December, are now available here.