The number of people claiming Jobseeker’s Allowance in Britain dropped unexpectedly in February, official data showed on Wednesday, in the largest monthly fall in the claimant count since November 1997.
According to the U.K. Office for National Statistics, the count decreased by 32,300 between January and February 2010 to reach 1.59 million.
Economists had expected the count to rise by 8,500, following an increase of 23,500 in January.
In a statement, the office said the employment rate for the three months to January 2010 was 72.2%.
Following the release of the data, sterling surged against the U.S. dollar, with GBP/USD jumping 0.54% to hit 1.5325.
According to the U.K. Office for National Statistics, the count decreased by 32,300 between January and February 2010 to reach 1.59 million.
Economists had expected the count to rise by 8,500, following an increase of 23,500 in January.
In a statement, the office said the employment rate for the three months to January 2010 was 72.2%.
Following the release of the data, sterling surged against the U.S. dollar, with GBP/USD jumping 0.54% to hit 1.5325.