UK unemployment rate drops to 7.1 percent

Britain's unemployment rate has dropped more than expected, edging closer to the point at which the Bank of England will consider raising interest rates.

For the three months ended Nov. 30, the rate fell to 7.1 percent, down 0.5 percentage points from the previous period, according to Office of National Statistics data released Wednesday.

The Associated Press reports government officials took the news as a sign that their long-term economic plans were working.

Read more from the Associated Press.