U.K. unemployment falls faster than expected
The unemployment rate in the U.K. fell to 7.4% and the total number of unemployed fell to 2.39 million. This is the lowest number of total unemployed since May 2009. In addition, the number of new claims also fell. If the unemployment rate reaches 7%, the Bank of England has said that it will review policy regarding interest rates. Although the British economy seems to be improving, there is evidence that it is at least partially driven by Britons reducing their savings in order to maintain spending.
See "U.K. unemployment falls faster than expected", Ilona Billington, Market Watch, December 17, 2013