U.K. Unemployment Unexpectedly Drops to Least Since 2008
- Earnings growth slows to 2.8%, still outpaces inflation
- Strongest growth in real incomes since before financial crisis
U.K. Unemployment Falls to Lowest Level Since May 2008
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U.K. unemployment fell to its lowest rate since mid-2008 in a sign that the labor market is withstanding strains from the global economy.
The jobless rate declined to 5.4 percent between June and August from 5.5 percent in the previous three months, the Office for National Statistics said Wednesday in London. Economists in a Bloomberg News survey forecast no change. Pay growth excluding bonuses slowed to 2.8 percent from 2.9 percent.