UK unemployment rate drops close to decade-low in quarter to October, though pay growth disappoints
The jobless rate dropped to 5.2pc, from 5.5pc in the quarter to July
UK unemployment returned to pre-crisis rates in the quarter to October, in another milestone for the recovery that underscored the strength of Britain’s booming jobs market.
However, wage growth disappointed, and a sharp decline in earnings growth over the period suggested that interest rates would remain at a record low of 0.5pc for longer.
The unemployment rate dropped to 5.2pc between August and October, from 5.5pc in the quarter to July.
This is the lowest rate since the three months to January 2006, according to the Office for National Statistics (ONS), and equals the pre-crisis trough between the end of 2007 and the start of 2008.