The U.K.'s jobless rate fell to a near six-year low on Wednesday to levels not seen since the beginning of the global financial crash of 2008, according to official data.
The unemployment rate for the three months between May and the end of July hit 6.2 percent, compared to 6.4 percent in the three-month period through to the end of June, figures from the Office for National Statistics (ONS). This was lower than expectations in a Reuters poll of 6.3 percent and was the lowest seen since the September-November period of 2008, the months which saw the Lehman bankruptcy and the resulting crash.
The number of people claiming unemployment benefits also fell and dipped below the 1.0 million mark for the first time since September 2008. Howard Archer, an economist at IHS Global Insight, called it a "robust set of labor market data."
Meanwhile, the minutes from the Bank of England's Monetary Policy Committee's latest meeting showed that members were still split 7 to 2 against an immediate rate hike.
Martin Weale and Ian McCafferty, known as the most hawkish members of the committee, both voted in favor of raising rates by 25 basis points at the August meeting and did so again this month.
Economists are expecting a move by the Bank at some point in the first half of next year. Stellar data in the country for the last two years has meant that it is officially one of the fastest growing economies in the G-7 group of industrialized nations.