UK Unemployment Rate Unexpectedly Drops
The unemployment rate declined in the three months to August as payroll employment increased and pay growth rose moderately, strengthening prospects for a Bank of England rate hike in November.
LONDON (dpa-AFX) - The UK unemployment rate unexpectedly declined in the three months to August amid an increase in payroll employment and a moderate rise in pay growth, strengthening prospects for a Bank of England interest rate hike in November.The ILO unemployment rate stood at 4.7 percent in th…