Economic news

UK unemployment drops to all-time low

The UK jobless rate unexpectedly dropped to its lowest level since 1975, data from the Office for National Statistics showed on Wednesday.

The unemployment rate in the three months to the end of June slumped to 4.4 percent, while economists in a Reuters poll had expected it to hold at 4.5 percent.

Earnings increased by 2.1% year-to-year.

The figures come a day after official data showed inflation held steady at 2.6% in July.

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