British Unemployment Rate Drops to 7.1 Percent

Biggest fall in unemployment since 1997

The UK unemployment rate has dropped to 7.1%, close to the point at which the Bank of England has said it will consider raising interest rates.

The number of people out of work fell by 167,000 to 2.32 million in the three months to November, the Office for National Statistics (ONS) said.

The ONS also said the number of people claiming Jobseeker's Allowance fell by 24,000 to 1.25 million in December.