According to the latest figures released, the unemployment rate in the UK has fallen to 7.4 per cent during the three months till October, 2013. The Office for National Statistics (ONS) said that the unemployment fell to 7.4 per cent during the quarter compared to 7.6 per cent recorded during the quarter till September, 2013.

The Bank of England has indicated that the interest rates are likely to remain low in the country in the coming future. Mark Carney, the governor of the Bank of England has indicated that the central bank is likely to keep interest rates low even after risks of housing bubble or a fall in unemployment. Carney said that the fall in unemployment will not automatically result in a rise in interest rates in the UK.

Experts have said that even as the economic indications are improving, the BoE is not set to increase its interest rates form the record low of 0.5 percent until unemployment falls to 7 percent. Carney launched the "forward guidance" policy in August in the country where he affirmed that the central bank will not cut its interest rate until the unemployment level falls to a certain level.