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British unemployment rate at four-year low

Lucky them.

Image: start date via Shutterstock

BRITAIN’S UNEMPLOYMENT RATE has dropped to a new four-year low point, official data showed today.

Unemployment in Britain slid to 7.4 per cent in the three months to October from 7.6 per cent in the quarter ending in September, the Office for National Statistics (ONS) said in a statement.

The rate is the lowest level since the three months to April 2009.

The ONS added that the number of unemployed people has fallen by 99,000 between August and October to 2.39 million.

The Bank of England, under governor Mark Carney, has stated that it will not raise its main interest rate from its record-low level of 0.50 per cent at least until the unemployment rate falls to seven per cent, under a “forward guidance” policy.

- © AFP, 2013

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