Unemployment

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The UK unemployment rate fell to 3.8 percent in the three months to July 2019, back to its joint lowest since the October to December 1974 period and slightly below market expectations of 3.9 percent. Unemployment declined by 11,000 to 1.294 million and employment rose by 31,000 to 32.777 million, below forecasts of a 53,000 increase. Meanwhile, total pay growth picked up to 4 percent, the fastest since mid-2008