ECONOMICS COMMENTARY
Dec 18, 2013
UK unemployment rate slumps to 7.4%
Employment is surging higher and unemployment collapsing in the UK as the economic recovery has moved into a higher gear. The official data are now confirming the upbeat signals from business surveys, which have shown the fastest rates of job creation since the late 1990s in recent months as firms respond to a marked pick up in demand. The surveys suggest that economic growth is likely to have accelerated to above 1.0% in the fourth quarter, encouraging increasing numbers of firms to take on staff and boost capacity. These buoyant survey data suggest that the official employment data will have continued to improve in November.
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