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U.K. Unemployment Rate Drops More Than Forecast to Six-Year Low
U.K. unemployment has fallen to the lowest in six years, indicating continued strength in the labor market that Bank of England Governor Mark Carney says will eventually boost earnings. The jobless rate based on International Labor Organisation methods fell to 6.2 percent in the three months through July from 6.4 percent, a bigger decline than economists had forecast. A separate measure for August put the claimant count rate at 2.9 percent. Both rates are at their lowest levels since 2008. While the U.K. economy is strengthening, the recovery has yet to boost wages. Today’s report showed that basic pay rose an ... (full story)
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