UK unemployment just dropped unexpectedly

Cameron hard hatREUTERS/Andrew WinningBritain’s Prime Minister David Cameron points during a visit to a construction site in central London, May 27, 2014.

The UK’s labour market figures for December just got released, and unemployment is down to 5.7%.

That’s the lowest since 2008, and better than was forecast.

Economists were expecting no move in unemployment for December.

Wage data is also out, which is watched carefully at the moment. The Bank of England has been clear that an improvement in wage growth is one of the major things it’s looking for as an indication that the economy is healthy enough for interest rates to rise.

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