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U.K. Unemployment Rate Stays at 7.8% as Labor Market Improves
Britain’s unemployment rate remained at 7.8 percent in the second quarter amid signs that the labor market is improving as the economy gains momentum. The jobless rate as measured by International Labour Organisation standards was unchanged from the three months through May, the Office for National Statistics in London said today. That was in line with the median of 30 forecasts in a Bloomberg News survey. Unemployment claims fell twice as much as predicted in July. Bank of England Governor Mark Carney last week made unemployment a focal point of monetary policy by pledging for the first time to refrain from ... (full story)