FTSE rises as UK unemployment falls to 2.5 million

<p>The FTSE 100 has advanced following news unemployment in the UK is down.</p>

The FTSE 100 has rallied today (October 17th) following the news unemployment in the UK has dropped again.

According to the Office for National Statistics, the number of people out of a job in the three months to September fell by 50,000 to 2.5 million – a decrease of 7.9 per cent.

Employment reached a high of almost 30 million and the official statistics bureau revealed that the amount of people queuing at Job Centres for Jobseeker's Allowance was down by 4,000 to 1.5 million last month.

More than 70 per cent of those aged between 16 and 64 are now in work, which is the highest since April 2009, but this is still lower than when the jobs market recorded its peak of 73 per cent employment in May 2008.

At 11:40 BST, the FTSE 100 was 0.3 per cent higher – a gain of 19.2 points – to 5889.7 points.

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