Unemployment fell by 132,000 between April and June to 2.08 million, official figures showed today.
The number of people claiming Jobseeker's Allowance also fell by 33,600 to 1.01 million last month.
The fall in youth unemployment was the biggest since records began with the number of 16-24-year-olds out of work decreasing by 102,000 between April and June to 767,000.
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The company said it had "considered pricing changes very carefully" and "sought to minimise the impact on customers".