10-year low for UK jobless

UK unemployment unexpectedly fell to the lowest in almost a decade and wage growth slowed less than economists forecast as Brtain’s labour market continued to strengthen.

Pay, excluding bonuses, rose 1.9% in the three months through November from a year earlier compared with 2% in the quarter through October, the UK’s Office for National Statistics said yesterday.

Economists in a Bloomberg survey had predicted 1.8% growth. Unemployment fell to 5.1%, the lowest since the three months through January 2006.