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U.K. Jobless Rate Drops
The unemployment rate in the U.K. declined from 7.8% in the second quarter to 7.7% in the June-August period, according to the country's Office for National Statistics.
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The unemployment rate in the U.K. declined from 7.8% in the second quarter to 7.7% in the June-August period, according to the country's Office for National Statistics.
The agency says the number of jobless workers shrank by 18,000 people to 2.5 million over the same period. Employed workers, including part-timers, jumped by 155,000 to a record high 29.9 million people.
The Bank of England, which has held its key interest rate at 0.5% since March 2009, says it will not consider raising the rate until unemployment drops to 7%.
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