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UK Jobless Rate Lowest Since 1974

The UK unemployment rate remained at the lowest since late 1974, the Office for National Statistics reported Tuesday.

In three months to July, the ILO jobless rate remained unchanged on quarter, at 3.8 percent, but slightly below the expected 3.9 percent.

The employment rate came in at 76.1 percent in three months to July, the joint-highest on record.

Average earnings including bonus increased 4 percent from last year, compared to the expected increase of 3.7 percent. Excluding bonus, earnings gained 3.8 percent.

In August, the claimant count rate rose slightly to 3.3 percent from 3.2 percent in July. The number of people claiming jobseekers' allowances increased by 28,200 from the previous month.

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