U.K. Unemployment Rate Unexpectedly Declines to 7.7%
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U.K. unemployment unexpectedly fell in the three months through July, moving a step closer to the threshold at which Bank of England Governor Mark Carney has said officials will consider raising interest rates.
The unemployment rate measured by International Labour Organization methods declined to 7.7 percent from 7.8 percent in the second quarter, the Office for National Statistics said in London today. The median forecast of 28 economists was for 7.8 percent. In August, jobless claims fell 32,600, more than economists had forecast. The pound rose to a seven-month high.