UK UNEMPLOYMENT RATE FALLS IN PRE - BUDGET BOOST , BUT FIRMS KEEP CUTTING VACANCIES – BUSINESS LIVE

What happened: UK unemployment fell to 4.7% in June to August, down from 4.9%, while vacancies posted their largest fall since the start of the year, down 21,000 to 691,000 in July to September. Key numbers: Unemployment 4.7% vs forecast of 5%; employment up 102,000 to 34.577m; unemployed down 47,000 to 1.712m; vacancies 691,000, first time below 700,000 Why it matters: The ONS attributes the vacancy decline mainly to smaller firms citing increased labour costs. Traders responded by pricing a 95.5% chance of a Bank of England rate rise to 4% in November, and the pound rallied on the data.

UK unemployment fell to 4.7% in June to August, down from 4.9%, while vacancies posted their largest fall since the start of the year, down 21,000 to 691,000 in July to September.

The ONS attributes the vacancy decline mainly to smaller firms citing increased labour costs. Traders responded by pricing a 95.5% chance of a Bank of England rate rise to 4% in November, and the pound rallied on the data.