The U.K. unemployment rate dropped from 7.8% to 7.7% in the three months through July, surprising analysts who had expected the rate to remain constant. "The labor market looks set to improve further as we move toward the end of the year, perhaps at a pace that might continue to surprise policymakers," Markit Group Chief Economist Chris Williamson. "In particular, surveys of recruitment agencies indicate that demand for staff appears to be surging as the economy gains faster-than-expected momentum."

Related Summaries