|The rate of unemployment is ever edging towards seven per cent, as it
now stands at 7.2 per cent. In the past, the Bank of England (BoE)
suggested that interest rates could rise once unemployment dips below
seven per cent.
Earnings are also up, as in the year to December
2013 they increased by 1.1 per cent. However, wage rises are still below
inflation, which is at 1.9 per cent - according to the Consumer Price
Index, reports itv.com.
Figures from the ONS show that the number
of people dependent on Jobseeker's Allowance dropped too. At the end of
last year, just 1.22 million Brits were signing on, a fall of 27,600
over the three months running up to December.
The number of
people taking up part-time work has fallen, but is still higher than it
was a year ago, showing that there is a lack of full-time employment for
some 1.4 million workers.
Prime minister David Cameron tweeted
that the latest ONS figures are good news for Britain. "It's good to see
another fall in unemployment," he says. "Our long-term economic plan
means more people with the security of a wage and a chance in life".