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UK Unemployment Rate At Lowest Since 1975

The UK unemployment rate remained unchanged at the lowest since 1975, data from the Office for National Statistics showed Tuesday.

The unemployment rate came in at 4 percent in three months to July, according to labor force survey. This was the lowest rate since February 1975.

The number of unemployed decreased by 55,000 from three months to April to 1.36 million.

At the same time, the employment rate dropped marginally to 75.5 percent in three months to July from 75.6 percent in three months to April.

Data showed that average earnings including bonuses grew 2.6 percent annually and earnings excluding bonuses rose 2.9 percent.

In August, the claimant count rate rose to 2.6 percent from 2.5 percent in July. The number of people claiming unemployment benefits increased by 8,700 from July.

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