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| UK unemployment rate at lowest since 2009 | |
| (35 minutes later) | |
| UK unemployment fell by 99,000 in the three months to October, with 2.39 million now out of work, official figures show. | UK unemployment fell by 99,000 in the three months to October, with 2.39 million now out of work, official figures show. |
| The unemployment rate fell to 7.4%, the Office for National Statistics (ONS) said. | The unemployment rate fell to 7.4%, the Office for National Statistics (ONS) said. |
| This is its lowest rate since the February-to-April period in 2009. | |
| This compares with a figure of 7.6% for the three months to September, and is below the rate analysts had expected. | |
| The ONS data also showed that the number of people claiming Jobseeker's Allowance in November fell by 36,700 to 1.27 million. | The ONS data also showed that the number of people claiming Jobseeker's Allowance in November fell by 36,700 to 1.27 million. |
| The Bank of England has said it will not consider raising interest rates from their record low of 0.5% until the unemployment rate falls to 7%. | |
| But even then, governor Mark Carney has said an interest rate increase is not guaranteed. | |
| Average weekly earnings growth including bonuses picked up by 0.9% in the three months to October compared with a year earlier, the ONS said, a slight improvement on the three months to September. | |
| Excluding bonuses, pay grew by 0.8%. | |
| But this is still well below the level of inflation - currently running at 2.1% - meaning that people's living standards are falling in real terms. |