Unemployment drops to 2.47m

Unemployment fell by 8,000 to 2.47m in the three months to July, figures from the Office for National Statistics have shown.

The overall UK unemployment rate remained at 7.8 per cent.

However, the figures also showed the claimant count – those out of work and seeking unemployment benefit – rose by 2,300 in August to 1.47m.

Many economists fear unemployment will rise later in the year when government cuts to the public sector take their toll.