UK unemployment rate nears decade low

Britain's unemployment rate fell to the lowest level in almost a decade during October, official data showed on Wednesday.

The unemployment rate dipped to 5.2 percent in the three months to October, from 5.3 percent in the three months to September, the Office for National Statistics said.

At 5.2 percent, the rate is the lowest since the start of 2006, the ONS added.

The jobless total meanwhile sank to a seven-year low, while employment hit a record high.

The number of unemployed dipped by 110,000 to 1.7 million people between August and October, striking the lowest level since mid-2008.

The amount of people in work hit 31 million, which was the highest level since comparable records began in 1971.