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UK unemployment falls to 8 pct despite recession

February 16. 2013 4:29PM
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(AP) Official figures show unemployment in the U.K. dropped to 8 percent in the three months to end-June despite a recession which has now lasted for nine months.

The Office for National Statistics reported Wednesday that the rate was down from 8.2 percent in the previous three month period.

The improvement has caused some analysts to question data which show GDP falling since the last quarter of 2011. The Bank of England expects the U.K. economy to achieve little or no growth this year.

Meanwhile, minutes of the Bank's August rate-setting meeting show all nine members voting to keep the main interest rate on hold at the record low of 0.5 percent and leaving the monetary stimulus unchanged.

However, some members thought a case could have been made for more stimulus.

Associated Press

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