British unemployment rate at four-year low: official data

LONDON: Britain's unemployment rate has dropped to a new four-year low point, official data showed on Wednesday.

Unemployment in Britain slid to 7.4 percent in the three months to October from 7.6 percent in the quarter ending in September, the Office for National Statistics (ONS) said in a statement.

The rate is the lowest level since the three months to April 2009.

The ONS added that the number of unemployed people has fallen by 99,000 between August and October to 2.39 million.

The Bank of England, under governor Mark Carney, has stated that it will not raise its main interest rate from its record-low level of 0.50 percent at least until the unemployment rate falls to seven percent, under a "forward guidance" policy.