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| UK unemployment falls by 125,000 to 2.34 million | 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 estimates. | |
| The rate of unemployment now stands at 7.2%. | The rate of unemployment now stands at 7.2%. |
| The Office for National Statistics also said more women were in work than at any time since records began, at just over 14 million. | |
| Meanwhile, average earnings increased by 1.1% in the year to December, a 0.2% increase on the previous month. | Meanwhile, average earnings increased by 1.1% in the year to December, a 0.2% increase on the previous month. |
| Latest estimates show that 193,000 more people were in work between October and December, compared to the previous three months. | |
| That means overall employment now stands at more than 30 million, a rate of 72.1%, which is an increase of 0.6% on a year ago. | |
| Rate fall "slowing" | |
| The number of people claiming jobseeker's allowance fell by 27,600 in January to 1.22 million, its 15th consecutive monthly drop. | |
| According to the ONS, the rate of unemployment in the three months to December fell by 0.4% on the previous quarter, bringing it to 7.2%. | |
| However, Nick Palmer, the ONS's senior labour market statistician, said: "The main conclusion that should be drawn from these latest figures is that the rate at which unemployment has been falling is likely to have slowed down." | |
| 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 | 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. | 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 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. | 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. | 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". | Mr Carney also warned the recovery was not secure and that when rates rose, they would do so only "gradually". |