Jobs
UK Unemployment Rate Drops Unexpectedly to Lowest Since 1974
- Record jump in inactivity shrinks the size of the workforce
- Figures add to inflationary concerns and pressure on rates
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UK unemployment fell unexpectedly to the lowest since 1974 as people dropped out of the workforce at a record rate.
The government said 3.5% of adults were looking for work in the three months through August, down from 3.6% the month before and a rate last lower in 1974. Economists had expected no change.