UK unemployment at 48-year low
Unemployment in the UK has fallen to its lowest level since 1974.
The unemployment rate in England fell to 3.5 percent in the three months ended August, the lowest level since 1974. Economists had expected the unemployment rate to be 3.6 percent.
In August, the number of unemployed decreased by 97 thousand.
The drop in the unemployment rate was due to the record numbers of people leaving the labor market.
According to the data of the National Statistics Office, the number of neither employed nor job seekers increased by 252 thousand in the 3 months ended May. This was the largest increase since data was retained in 1971.
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