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| UK unemployment falls by 63,000 to 2.33 million | UK unemployment falls by 63,000 to 2.33 million |
| (35 minutes later) | |
| The number of people out of work in the UK fell by 63,000 to 2.33 million in the three months to January 2014, according to official figures. | The number of people out of work in the UK fell by 63,000 to 2.33 million in the three months to January 2014, according to official figures. |
| The unemployment rate now stands at 7.2% of the population, down from 7.4% in the previous three months, said the Office for National Statistics (ONS). | |
| The number of people in employment rose to a record total of 30.19 million. | The number of people in employment rose to a record total of 30.19 million. |
| Average earnings also increased, with pay in the three months to January up 1.4% from a year earlier. | |
| There was good news for young people, as the number of unemployed 16 to 24-year-olds stood at 912,000 in the three months to January, a drop of 29,000 and the lowest level since 2011. | |
| In February, the number of people claiming Jobseeker's Allowance fell by 34,600 to 1.175 million. Over the course of a year, the number has dropped by 363,200. | In February, the number of people claiming Jobseeker's Allowance fell by 34,600 to 1.175 million. Over the course of a year, the number has dropped by 363,200. |
| 'Improving economy' | |
| Employment Minister Esther McVey said the overall fall in unemployment showed that "the growing economy is helping record numbers of people to find a job". | |
| "The rise in employment is being fuelled by businesses and entrepreneurs across the country who are feeling increasingly confident with the improving economy," she added. | |
| Prime Minister David Cameron tweeted: "Another significant fall in unemployment is a sign our long-term economic plan is working, providing security and chances for hard-working people." | |
| Shadow work and pensions secretary Rachel Reeves disagreed, saying "long-term youth unemployment has doubled under David Cameron". | |
| "It's clear tens of thousands of young people are not feeling any recovery at all," she said. | |
| "Today's figures also show that working people facing a cost-of-living crisis and that prices are still rising faster than wages under David Cameron." | |
| Self-employment | |
| David Tinsley, an economist at BNP Paribas, said that while the employment figures were promising, there were some weak areas. | |
| "The level of employees actually fell by 60,000 over the quarter to January, with a large rise in self-employment making up for this drop," he said. | |
| He also noted that the average weekly hours worked by full-time UK employees was down by 0.2%. | |
| Just over 10% more men are employed than women, but the unemployment rate for men was higher than for women, with 7.4% of the male labour force out of work. | |
| There were 159,000 fewer people employed in the public sector for December 2013, compared with the September figure. However, a large part of this reduction is due to the privatisation of Royal Mail. | |
| The figures for unemployment in the three months to January are based on the Labour Force Survey, in which the ONS speaks to 60,000 households once a quarter, making it the country's biggest household survey. | |
| The ONS is 95% confident that the unemployment figure is correct to plus or minus 81,000 people. | |
| Recovery 'broadening' | |
| Separately, the Bank of England released the minutes from the latest meeting of its Monetary Policy Committee. | |
| The minutes showed that all nine MPC members voted earlier this month to keep interest rates at 0.5% and to keep the programme of quantitative easing unchanged at £375bn, as expected. | |
| The MPC noted the recovery in the UK economy was widening beyond consumer spending. | |
| "There were initial signs that the anticipated broadening from household to business spending might have already begun," the minutes said. | |
| "Even so, there remained some way to go to ensure that the recovery was both balanced and sustainable." | |
| Are you looking for work? Are you an employer? Email us haveyoursay@bbc.co.uk adding 'unemployment' in the subject heading and include your contact details. |