Pound higher versus dollar as unemployment falls to 2.5m

<p>The pound has made gains versus the dollar as unemployment falls to 2.5 million.</p>

The pound has made gains in forex trading versus the dollar today (November 14th) as the Office for National Statistics (ONS) revealed joblessness in the UK has continued to fall.

There are now 2.5 million people out of work in the country, which is the lowest total for more than a year.

Unemployment fell by 49,000 in the three months to September, taking the jobless rate to 7.8 per cent from 7.9 per cent – with decreasing youth unemployment accounting for much of this decline.

Total unemployment is now 110,000 lower than for the July-September 2011 period, according to the ONS, with the number of those in work rising by 100,000 in the latest quarter to just under 30 million – which is a rise of more than 500,000 over the past 12 months.

At 10:45 GMT, the pound was higher in forex trading versus the dollar by 0.05 per cent, rising to £1 buying $1.587.

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