Unemployment down 14,000 to 2.50 million

Unemployment fell by 14,000 between October and December to 2.50 million, and the unemployment rate is down to 7.8%, today’s labour market statistics reveal.

Unemployment fell by 14,000 between October and December to 2.50 million, and the unemployment rate is down to 7.8%, today’s labour market statistics reveal.

The headline figures are:

• The employment rate for those aged from 16 to 64 was 71.5%, up 0.3 on July to September 2012 and up 1.1 on a year earlier. There were 29.73 million people in employment aged 16 and over, up 154,000 on July to September 2012 and up 584,000 on a year earlier.

• The unemployment rate was 7.8% of the economically active population, down 0.1 on July to September 2012 and down 0.6 on a year earlier. There were 2.50 million unemployed people, down 14,000 on July to September 2012 and down 156,000 on a year earlier.

• The inactivity rate for those aged from 16 to 64 was 22.3%, down 0.2 on July to September 2012 and down 0.8 on a year earlier. There were 8.98 million economically inactive people aged from 16 to 64, down 94,000 on July to September 2012 and down 294,000 on a year earlier.

Total pay (including bonuses) rose by 1.4% compared with October to December 2011. Regular pay (excluding bonuses) rose by 1.3% compared with October to December 2011.

We will have more detailed reaction later today on Left Foot Forward.

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