Economic news

UK's unemployment rate slips to its lowest since 1975

UK jobless rate unexpectedly dropped further to its lowest level in more than four decades in the three months to July, while real wages increased an annual 2.1 percent, below market forecasts, according to data from the Office for National Statistics.

Unemployment rate fell to 4.3 percent from 4.4 percent. It has accelerated sharply since the pound sterling slumped after the Brexit vote last summer.

Sterling sank from $1.3299 to $1.3266.


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