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| UK unemployment falls by 125,000 to 2.34 million | |
| (35 minutes later) | |
| The number of people out of work in the UK fell by 125,000 to 2.34 million in the three months to December, according to the latest figures. | |
| The rate of unemployment now stands at 7.2%. | |
| The Office for National Statistics also said the number of people claiming jobseeker's allowance last month fell by 27,600 to 1.22 million. | |
| Meanwhile, average earnings increased by 1.1% in the year to December, a 0.2% increase on the previous month. | |
| Employment now stands at more than 30 million, a rate of 72.1%, which is an increase of 0.6% on a year ago. | |
| More women are in work than at any time since records began in 1971, at just over 14 million, the data showed. | |
| The number of people in part-time jobs now stands at 1.4 million, a fall of 29,000 over the latest quarter but 46,000 higher than a year ago. | |
| Bank of England | |
| Youth and long-term unemployment have also fallen, but there has been little change in the number of people classed as economically inactive, which has remained just under nine million. | |
| The unemployment rate remains a key focus for the Bank of England, but it is no longer linked to governor Mark Carney's pledge to keep interest rates at record lows. | |
| The Bank had pledged not to consider a rate rise until unemployment fell to 7%, but with that target set to be reached much earlier than expected, the guidance has been replaced. | |
| Policy will now be determined not just by unemployment, but by a wider range of indicators, including wage growth and productivity. | |
| Mr Carney also warned the recovery was not secure and that when rates rose, they would do so only "gradually". |