UK Jobless Claims Plunge At The Sharpest Rate In 13 Years

UK labor statistics are out and they're encouraging for the region.

The unemployment rate for the period from June to August was 7.7%, which was in line with economists' forecasts.

However, those filing for unemployment claims in September plunged by 41,700, this was a sharper decline than the 25,000 expected. According to Bloomberg, this is the biggest drop since June 1997.

Here's a look at how the British pound spiked against the dollar after the news.