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Despite the recent recession, the Office for National Statistics said Wednesday that that the U.K. unemployment rate fell to 7.8 percent in the July-September period, down from 8.0 percent in the previous three months and from 8.2 percent in the year-earlier period. However, there was an increase of 10,000 in the number of people claiming unemployment benefits in the month of September. Martin Beck, an analyst at Capital Economics, says that may signal that the job market is starting to weaken again. "The labor market's recent resilience may finally be starting to fade," Beck said. Meanwhile the statistics agency said that pay growth of 1.8 percent in the last year continued to lag behind the rate of inflation, currently 2.7 percent.
[Associated
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