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U.S. markets recover from steep losses
LONDON, Nov. 11 (UPI) -- Labor statistics in Britain show a pattern of recovery as job losses have slowed, the Office for National Statistics said.
Jobless claims rose in October by 12,900, far short of economists' predictions of 20,000, The Times of London reported Wednesday.
Consequently, Britain's unemployment rate dropped in the third quarter to 7.8 percent from 7.9 percent. Economists had predicted a rise to 8 percent joblessness, The Times said.
Howard Archer, chief economist at IHS Global Insight, said the job figures were "really encouraging showing smaller rises than expected and extending the recent trend of slowing job losses."
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