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Unemployment down, Despite Recession

Unemployment within the UK has fallen in the past quarter, down to a low of 8pc, possibly due to increased hiring associated with the Olympic Games.

Official figures from the Office of National Statistics confirmed that some 46,000 people more than the previous three month period were employed; meaning the overall previous rate of 8.2pc was reduced to 8pc. This has come as a surprise to many, including industry analysts, particularly because the British economy declined further over the same period.

Chris Williamson, an analyst from Markit said: “It seems that the Olympics have provided a temporary boost to the job market, with half of all new jobs being created in London in the three months to June”.

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