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via rttnews.comEconomy

UK unemployment rate unexpectedly drops

FROM THE WIRE · RTTNEWS.COM

The UK unemployment rate unexpectedly declined in the three months to August amid falling job vacancies and a moderate increase in pay growth, adding prospects for a Bank of England interest rate hike in November.

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishThe data strengthens expectations of a Bank of England rate hike in November, affecting sterling and gilts.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The UK unemployment rate unexpectedly declined in the three months to August.
  2. 02Job vacancies fell and pay growth rose moderately.
  3. 03The data adds to prospects for a Bank of England rate hike in November.

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