Rolling coverage of the latest economic and financial news, as UK jobless rate drops to 4.2%
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
Unemployment across the UK has dropped unexpectedly, as more people find work – or drop out of the labour market altogether.
“There was a fall in the unemployment rate, which is now lower than a year ago. Meanwhile, there was a modest increase in both the total numbers of people in employment and the number of employees on payroll in the latest quarter.
“However, the medium-term picture remains somewhat subdued with the employment rate still lower than a year ago and the growth rate in the number of payrolled employees having slowed over the year.