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| UK unemployment jumps to 7.2% | UK unemployment jumps to 7.2% |
| (35 minutes later) | |
| Britain's unemployment rate unexpectedly climbed to 7.2 per cent in the fourth quarter bolstering the Bank of England's pledge to keep rates on hold. | Britain's unemployment rate unexpectedly climbed to 7.2 per cent in the fourth quarter bolstering the Bank of England's pledge to keep rates on hold. |
| However, the number of people out of work fell by 125,000 to 2.34 million in the three months to December, the Office for National Statistics said. | However, the number of people out of work fell by 125,000 to 2.34 million in the three months to December, the Office for National Statistics said. |
| Economists had expected unemployment to stay unchanged at 7.1 per cent. | Economists had expected unemployment to stay unchanged at 7.1 per cent. |
| The ONS also said the number of people claiming Jobseeker's Allowance dropped by 27,600 to 1.22 million in January. | The ONS also said the number of people claiming Jobseeker's Allowance dropped by 27,600 to 1.22 million in January. |
| Prime Minister David Cameron tweeted: "It's good to see another fall in unemployment. Our Long Term Economic Plan means more people with the security of a wage and a chance in life." | |
| The number of people in part-time jobs fell by 29,000 to 1.4 million but 46,000 higher than a year ago. More women are in work than at any time since records began in 1971 at just over 14 million. | |
| TUC general secretary Frances O'Grady said: "These are encouraging figures for the millions of people desperate for work. It is good news that unemployment levels continue to fall, and that young people are finally beginning to share in the improving jobs market. | |
| "But people already in work have less to cheer about, with prices still rising twice as fast as wages. While we have a record proportion of women in employment, the widening gender pay gap means many women are not getting the fair pay they deserve." | |
| Average weekly earnings increased 1.1 per cent in the year to December compared with the same period in 2012, but that is below the annual inflation rate of 1.9 per cent in January. | Average weekly earnings increased 1.1 per cent in the year to December compared with the same period in 2012, but that is below the annual inflation rate of 1.9 per cent in January. |
| The figures come a week after the Bank was forced to overhaul its forward guidance policy after six months, dropping the 7 per cent unemployment target for a vaguer output gap rate rise trigger. | |
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