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Unemployment at 10-year low as jobless cut by 37,000

Unemployment is now at a 10-year low Credit: PA

Unemployment in the UK fell by 37,000 to 1.6 million from July to August.

Figures of unemployment across the country are now at a 10-year low, according to the Office for National Statistics.

The numbers are an improvement on the first quarter to August, where unemployment increased by 100,000 to 1.66 million.

The current employment rate of 74.5% is the highest since records began in 1971.

However, the ONS warned there are signs that the jobs market might be "cooling".

Unemployment increases by 10,000

Unemployment has increased by 10,000 in the quarter to 1.66 million people. Credit: PA

Unemployment has increased by 10,000 in the quarter to August to 1.66 million people.

Despite unemployment increasing, the number of people in employment remains at a record high of 32 million.

The claimant count increased by 700 last month to 776,400, the sixth increase in seven months according to the Office for National Statistics.

Average earnings increased by 2.3% in the year to August, 0.1% down from the previous month.

Unemployment is 118,000 lower than this time last year despite the rise.

Analysis from ITV News Business Editor Joel Hills.

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UK house prices soar £17,000 in a year to hit £217,000

The average house in the UK now costs £217,000. Credit: PA

The average house price in the UK has increased by £17,000 in the last year.

The increase means that the average house price in the UK is now £217,000.

Property values also increased by £1,000 on average in the last month, continuing a "strong" run of growth, according to the Office for National Statistics (ONS).

As of July the average house price in England stood at £233,000, while in Wales it was £145,000, in Scotland it was £144,000 and in Northern Ireland it was £123,000.

As the effects of Brexit on the housing market become clearer in the coming months, Thomas Fisher, an economist at PwC, said: "Our own expectation is that the UK housing market will cool not crash."


Unemployment falls to 1.65m between March and May

Unemployment fell between March and May 2016, according to figures from the Office for National Statistics. Credit: PA Wire

Unemployment fell by 54,000 to 1.65 million between March and May, official figures show.

Unemployment fell by this figure between March and May - the lowest level in 11 years.
The number of people on the claimant count last month increased by 400 to this figure.
Average earnings increased by this figure in the year to May - 0.3% up on the previous month.
  1. Richard Edgar

Inflation figures to stay where they are for some time

Energy prices used to get the blame for pushing up inflation but not this month.

Small rises from some energy companies were cancelled out by the removal of green taxes.

Read: Fuel bill cuts after Government pledge

Looking at the detail of the components of inflation usually gives some insight in which way the wind is blowing but this month things look to have ground to a halt.

Prices have fallen for unusual things, whilst upward pressure came from items such as baby wipes and toothbrushes. Credit: Reuters

Prices have fallen for peculiar things like "cultural events" - winter prices are lower at some attractions ­and DVDs.

Upward pressure came from baby wipes and toothbrushes. I¹m not making this up.

Reading the runes in that mix would be very hard except perhaps the very lack of direction tells us that inflation will stay where it is for some time.

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