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UK Unemployment Rate Lowest Since 1975, Earnings Growth Exceeds Forecast

The UK unemployment rate declined further in the second quarter to the lowest level in 42 years and earnings growth exceeded expectations, but continued to lag behind inflation, squeezing consumers’ disposable income. The ILO unemployment rate fell to 4.4 percent in the second quarter from 4.9 percent a year ago, data from the Office for National Statistics showed Wednesday.
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