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Unemployment rate falls to 7.6%

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The UK unemployment rate fell 0.2% in the three months to September to 7.6%, its lowest level in more than four years, official figures reveal.

There were 2.47 million unemployed people between July and September, down 48,000 from April to June 2013, according to the Office for National Statistics.

The unemployment level has become more significant after the Bank of England said in August it would not raise the base rate of interest from 0.5% until unemployment falls to 7% or below.

Governor Mark Carney (pictured) said the 7% mark represents the point at which the BoE will “reassess” its interest rate policy.

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